TXNM Energy (NYSE:TXNM) Posts Earnings Results, Misses Expectations By $0.12 EPS

TXNM Energy (NYSE:TXNM) issued its quarterly earnings data on Friday. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.12), FiscalAI reports. The business had revenue of $533.23 million during the quarter, compared to the consensus estimate of $593.29 million. TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.

TXNM Energy Stock Down 0.2%

TXNM stock opened at $59.05 on Friday. The business has a 50 day moving average of $59.07 and a 200 day moving average of $57.89. The firm has a market cap of $6.43 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16. TXNM Energy has a twelve month low of $47.21 and a twelve month high of $59.52. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 27th will be paid a $0.4225 dividend. The ex-dividend date is Monday, April 27th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is presently 98.83%.

Hedge Funds Weigh In On TXNM Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Balyasny Asset Management L.P. boosted its stake in 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 worth $228,592,000 after purchasing an additional 3,133,794 shares in the last quarter. Citadel Advisors LLC increased its stake in TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after purchasing an additional 1,002,011 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in TXNM Energy by 83.1% in 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 buying an additional 800,258 shares during the last quarter. Sona Asset Management US LLC lifted its stake in shares of TXNM Energy by 79.8% in the third quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company’s stock worth $94,090,000 after buying an additional 738,631 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of TXNM Energy by 228.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,001,951 shares of the company’s stock valued at $56,660,000 after buying an additional 697,109 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TXNM shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.30.

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.