TXNM Energy (NYSE:TXNM) Issues Earnings Results

TXNM Energy (NYSE:TXNM) issued its quarterly earnings results on Friday. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02, FiscalAI reports. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million.

TXNM Energy Stock Performance

NYSE TXNM opened at $57.93 on Friday. TXNM Energy has a 52-week low of $55.64 and a 52-week high of $59.53. The company has a fifty day moving average of $57.73 and a 200-day moving average of $58.55. The company has a market capitalization of $6.41 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.50 and a beta of 0.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55.

TXNM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy’s payout ratio is currently 121.58%.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its position in shares of TXNM Energy by 344.9% during 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 last quarter. Citadel Advisors LLC boosted its stake in TXNM Energy by 19,952.4% in the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock worth $56,948,000 after buying an additional 1,002,011 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of TXNM Energy by 83.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock worth $99,279,000 after acquiring an additional 800,258 shares in the last quarter. Sona Asset Management US LLC lifted its holdings in shares of TXNM Energy by 79.8% in the 3rd quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company’s stock worth $94,090,000 after acquiring an additional 738,631 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of TXNM Energy by 228.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,001,951 shares of the company’s stock valued at $56,660,000 after purchasing an additional 697,109 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

TXNM has been the subject of several recent research reports. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Weiss Ratings reiterated 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 stock currently has an average rating of “Hold” and a consensus price target of $61.25.

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.