BROOKFIELD Corp ON Invests $94.22 Million 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 position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,761,708 shares of the company's stock, valued at approximately $94,216,000. TXNM Energy makes up approximately 0.5% of BROOKFIELD Corp ON's portfolio, making the stock its 24th biggest position. BROOKFIELD Corp ON owned about 1.90% of TXNM Energy as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in TXNM Energy during the first quarter valued at about $25,000. Versant Capital Management Inc acquired a new position in shares of TXNM Energy during the first quarter worth approximately $35,000. Fifth Third Bancorp acquired a new position in shares of TXNM Energy during the first quarter worth approximately $40,000. Financial Gravity Asset Management Inc. bought a new stake in shares of TXNM Energy in the first quarter valued at approximately $41,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of TXNM Energy in the first quarter worth $43,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TXNM. Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Scotiabank increased their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Barclays reissued an "overweight" rating and set a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TXNM Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.86.

TXNM Energy Trading Down 0.2%

TXNM traded down $0.09 during mid-day trading on Wednesday, reaching $56.55. The stock had a trading volume of 233,915 shares, compared to its average volume of 1,224,923. The firm's fifty day simple moving average is $56.79 and its two-hundred day simple moving average is $54.99. The stock has a market capitalization of $5.96 billion, a P/E ratio of 29.15, a P/E/G ratio of 2.69 and a beta of 0.09. TXNM Energy, Inc. has a 52 week low of $42.09 and a 52 week high of $57.42. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51.

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 (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). The firm had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

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

About TXNM Energy

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.