TXNM Energy (NYSE:TXNM) Announces Earnings Results, Misses Expectations By $0.09 EPS

TXNM Energy (NYSE:TXNM) issued its quarterly earnings data on Friday. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09), Briefing.com reports. The firm had revenue of $504.98 million for the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS.

TXNM Energy Trading Up 0.3%

TXNM traded up $0.15 during midday trading on Friday, hitting $59.21. 1,958,952 shares of the company were exchanged, compared to its average volume of 1,187,496. The firm has a market capitalization of $6.56 billion, a P/E ratio of 40.56, a P/E/G ratio of 2.52 and a beta of 0.17. TXNM Energy has a 1-year low of $51.59 and a 1-year high of $59.52. The firm’s 50 day moving average price is $58.83 and its 200-day moving average price is $58.51. The company has a quick ratio of 0.38, a current ratio of 0.55 and a debt-to-equity ratio of 1.48.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s payout ratio is presently 115.75%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TXNM. Empowered Funds LLC acquired a new position in TXNM Energy during the 1st quarter worth about $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in TXNM Energy by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock worth $15,902,000 after buying an additional 32,776 shares during the period. M&T Bank Corp lifted its holdings in TXNM Energy by 29.4% during the 2nd quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock worth $353,000 after buying an additional 1,426 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in TXNM Energy by 215.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after buying an additional 1,043 shares during the period. Finally, Marshall Wace LLP lifted its holdings in TXNM Energy by 323.5% during the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock worth $7,130,000 after buying an additional 96,708 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.88.

TXNM Energy Company Profile

TXNM Energy, Inc, through its subsidiaries, provides electricity and electric services in the United States. It operates through Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP) segments. The PNM segment engages in the generation, transmission, and distribution of electricity. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.