TXNM Energy (NYSE:TXNM) Posts Earnings Results, Beats Expectations By $0.02 EPS

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

TXNM Energy Stock Down 0.1%

Shares of TXNM traded down $0.04 during trading on Friday, reaching $57.93. The company’s stock had a trading volume of 1,000,122 shares, compared to its average volume of 1,356,333. The company has a fifty day moving average of $57.76 and a two-hundred day moving average of $58.55. TXNM Energy has a twelve month low of $55.64 and a twelve month high of $59.53. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 41.68, a P/E/G ratio of 2.49 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46.

TXNM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a $0.4225 dividend. 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 dividend payout ratio is presently 121.58%.

Analyst Ratings Changes

A number of research firms recently weighed in on TXNM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.25.

Institutional Trading of TXNM Energy

Hedge funds have recently made changes to their positions in the stock. Abel Hall LLC bought a new position in TXNM Energy during the 4th quarter valued at $724,000. Mercer Global Advisors Inc. ADV increased its position in shares of TXNM Energy by 16.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,663 shares of the company’s stock worth $569,000 after purchasing an additional 1,347 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of TXNM Energy in the 1st quarter valued at about $547,000. Cibc World Markets Corp acquired a new stake in shares of TXNM Energy in the 4th quarter valued at about $393,000. Finally, FORA Capital LLC bought a new position in shares of TXNM Energy during the fourth quarter worth about $390,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

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.