4,397 Shares in TXNM Energy, Inc. (NYSE:TXNM) Purchased by Connable Office Inc.

Key Points

• Connable Office Inc. has acquired 4,397 shares of TXNM Energy, Inc., valued at approximately $235,000, during the 1st quarter of this year.
• TXNM Energy recently reported earnings with an EPS of $0.25, missing expectations of $0.46, while revenue was up to $502.42 million.
• A quarterly dividend of $0.4075 per share has been announced, representing an annual yield of 2.9%.

Connable Office Inc. acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 4,397 shares of the company's stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Principal Financial Group Inc. bought a new position in shares of TXNM Energy in the first quarter worth approximately $11,181,000. Allspring Global Investments Holdings LLC bought a new position in shares of TXNM Energy in the 1st quarter worth $878,000. New York State Teachers Retirement System purchased a new stake in shares of TXNM Energy during the 1st quarter valued at $4,682,000. KBC Group NV bought a new stake in shares of TXNM Energy during the 1st quarter worth $188,000. Finally, Amalgamated Bank purchased a new position in TXNM Energy in the first quarter worth $2,135,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Stock Down 0.7%

TXNM Energy stock traded down $0.38 during mid-day trading on Friday, reaching $56.73. The stock had a trading volume of 1,320,171 shares, compared to its average volume of 1,288,033. TXNM Energy, Inc. has a one year low of $39.70 and a one year high of $57.42. The company has a 50-day moving average price of $56.63 and a two-hundred day moving average price of $53.56. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.70 and a beta of 0.10. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.19.

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

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, August 8th. TXNM Energy's dividend payout ratio (DPR) is presently 84.02%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Scotiabank raised their price objective on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, May 20th. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays restated an "overweight" rating and issued a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Finally, Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $54.86.

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.