BROOKFIELD Corp ON Makes New $94.22 Million Investment in TXNM Energy, Inc. $TXNM

Key Points

• BROOKFIELD Corp ON has acquired a significant stake in TXNM Energy, Inc., investing approximately $94.22 million for 1,761,708 shares, making it the firm's 24th largest position.
• TXNM Energy recently reported earnings per share (EPS) of $0.25, missing estimates, while also announcing a quarterly dividend of $0.4075 per share with a 2.9% yield.
• Institutional ownership of TXNM Energy is high at 91.68%, reflecting strong interest from various hedge funds and investment firms.

BROOKFIELD Corp ON purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,761,708 shares of the company's stock, valued at approximately $94,216,000. TXNM Energy makes up 0.5% of BROOKFIELD Corp ON's investment portfolio, making the stock its 24th largest position. BROOKFIELD Corp ON owned approximately 1.90% of TXNM Energy at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TXNM. BNP Paribas Financial Markets acquired a new stake in TXNM Energy during the 4th quarter valued at $874,000. Baird Financial Group Inc. acquired a new stake in TXNM Energy during the 4th quarter valued at $236,000. Captrust Financial Advisors acquired a new stake in TXNM Energy during the 4th quarter valued at $307,000. Cetera Investment Advisers acquired a new stake in TXNM Energy during the 4th quarter valued at $236,000. Finally, Janus Henderson Group PLC acquired a new stake in TXNM Energy during the 4th quarter valued at $1,891,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TXNM Energy Price Performance

NYSE:TXNM traded up $0.04 during midday trading on Monday, hitting $56.90. 1,002,399 shares of the stock were exchanged, compared to its average volume of 1,232,473. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.69 and a beta of 0.09. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a one year low of $42.09 and a one year high of $57.42. The business has a 50-day moving average price of $56.78 and a two-hundred day moving average price of $54.97.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued 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). The business had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. TXNM Energy's revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

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

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.