TXNM Energy, Inc. $TXNM Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its position in TXNM Energy by 41.4% in the first quarter, owning approximately 3.84% of the company, valued at $190.4 million.
• TXNM Energy recently posted a net revenue of $502.42 million for the quarter, exceeding estimates, but reported earnings per share of $0.25, missing the consensus estimate of $0.46.
• The company declared a quarterly dividend of $0.4075 per share, resulting in an annualized dividend yield of 2.9%.

Alliancebernstein L.P. raised its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 41.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,560,321 shares of the company's stock after buying an additional 1,043,259 shares during the period. Alliancebernstein L.P. owned about 3.84% of TXNM Energy worth $190,406,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of TXNM Energy by 4.9% during the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company's stock worth $327,000 after buying an additional 285 shares during the period. Baird Financial Group Inc. boosted its holdings in TXNM Energy by 6.0% in the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company's stock valued at $272,000 after purchasing an additional 287 shares during the period. Hughes Financial Services LLC purchased a new position in TXNM Energy in the first quarter valued at $25,000. Cetera Investment Advisers boosted its holdings in TXNM Energy by 10.1% in the first quarter. Cetera Investment Advisers now owns 5,281 shares of the company's stock valued at $282,000 after purchasing an additional 486 shares during the period. Finally, Versant Capital Management Inc purchased a new position in TXNM Energy in the first quarter valued at $35,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.2%

TXNM Energy stock traded up $0.10 during midday trading on Wednesday, reaching $56.94. The company's stock had a trading volume of 97,259 shares, compared to its average volume of 1,237,203. TXNM Energy, Inc. has a fifty-two week low of $40.47 and a fifty-two week high of $57.42. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The company has a market cap of $6.00 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.68 and a beta of 0.09. The business has a 50-day simple moving average of $56.73 and a 200-day simple moving average of $54.81.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The business had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. The business's revenue was up 2.9% compared to the same quarter last year. On average, research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.4075 per share. The ex-dividend date was Friday, August 8th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy's payout ratio is 84.02%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TXNM. Scotiabank lifted their target price on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, May 20th. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $54.86.

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.