Hsbc Holdings PLC Takes $50.71 Million Position in TXNM Energy, Inc. $TXNM

Hsbc Holdings PLC acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 889,385 shares of the company’s stock, valued at approximately $50,713,000. Hsbc Holdings PLC owned about 0.86% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in TXNM Energy by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,787 shares of the company’s stock valued at $221,000 after purchasing an additional 176 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of TXNM Energy by 17.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after buying an additional 184 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of TXNM Energy by 3.3% in the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock valued at $356,000 after buying an additional 199 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of TXNM Energy by 1.4% in the 4th quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock valued at $931,000 after buying an additional 219 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of TXNM Energy by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,368 shares of the company’s stock valued at $372,000 after buying an additional 223 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy has an average rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Trading Up 0.4%

Shares of NYSE:TXNM opened at $57.52 on Thursday. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53. The company’s 50 day moving average is $57.38 and its two-hundred day moving average is $58.33. The company has a market cap of $5.93 billion, a PE ratio of 31.78, a P/E/G ratio of 2.47 and a beta of 0.17. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $548.55 million during the quarter, compared to analysts’ expectations of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. Equities analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is 93.37%.

TXNM Energy 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.