Hsbc Holdings PLC Sells 365,558 Shares of TXNM Energy, Inc. $TXNM

Hsbc Holdings PLC trimmed its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 95.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,391 shares of the company’s stock after selling 365,558 shares during the period. Hsbc Holdings PLC’s holdings in TXNM Energy were worth $1,025,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock worth $700,631,000 after purchasing an additional 330,382 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after purchasing an additional 3,133,794 shares during the period. Norges Bank acquired a new stake in shares of TXNM Energy in the 4th quarter valued at about $182,061,000. Geode Capital Management LLC lifted its holdings in shares of TXNM Energy by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock valued at $151,378,000 after purchasing an additional 161,141 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of TXNM Energy by 53.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock valued at $113,704,000 after purchasing an additional 668,929 shares in the last quarter. 91.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.25.

TXNM Energy Stock Performance

TXNM opened at $57.14 on Tuesday. The business’s 50-day simple moving average is $58.13 and its 200 day simple moving average is $58.66. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The firm has a market capitalization of $6.33 billion, a PE ratio of 41.11, a PEG ratio of 2.45 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The company had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 earnings per share. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $1.145 dividend. This represents a $4.58 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s payout ratio is currently 121.58%.

About TXNM Energy

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.