TXNM Energy (NYSE:TXNM) Releases Earnings Results, Misses Expectations By $0.09 EPS

TXNM Energy (NYSE:TXNM) issued its quarterly earnings data on Friday. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09), Briefing.com reports. The firm had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share.

TXNM Energy Price Performance

TXNM stock traded up $0.15 during midday trading on Friday, hitting $59.21. 1,958,952 shares of the stock were exchanged, compared to its average volume of 1,187,496. The stock’s 50-day moving average price is $58.83 and its 200-day moving average price is $58.51. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 2.52 and a beta of 0.17. TXNM Energy has a fifty-two week low of $51.59 and a fifty-two week high of $59.52. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.38 and a current ratio of 0.55.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 27th will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s payout ratio is currently 115.75%.

Analyst Ratings Changes

Separately, Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, TXNM Energy currently has an average rating of “Hold” and an average price target of $60.88.

Hedge Funds Weigh In On TXNM Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in shares of TXNM Energy in the fourth quarter worth $27,000. Kestra Advisory Services LLC acquired a new position in shares of TXNM Energy in the fourth quarter worth $74,000. Smartleaf Asset Management LLC raised its holdings in shares of TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after acquiring an additional 236 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after acquiring an additional 623 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of TXNM Energy by 215.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after acquiring an additional 1,043 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

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.