TXNM Energy, Inc. $TXNM Stake Lessened by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its stake in TXNM Energy, Inc. by 6.3%, selling 41,622 shares during the first quarter, which resulted in ownership of 614,673 shares valued at approximately $32.87 million.
• TXNM Energy reported earnings of $0.25 per share for the last quarter, missing estimates by $0.21, while its revenue increased by 2.9% year-over-year to $502.42 million.
• The company recently declared a quarterly dividend of $0.4075 per share, resulting in an annualized yield of 2.9% and a dividend payout ratio of 84.02%.

Gabelli Funds LLC cut its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,673 shares of the company's stock after selling 41,622 shares during the period. Gabelli Funds LLC owned 0.66% of TXNM Energy worth $32,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Walleye Capital LLC bought a new position in shares of TXNM Energy during the first quarter worth about $3,548,000. Smartleaf Asset Management LLC acquired a new position in TXNM Energy during the 1st quarter valued at about $43,000. Capital Fund Management S.A. grew its position in TXNM Energy by 110.4% in the 1st quarter. Capital Fund Management S.A. now owns 29,253 shares of the company's stock worth $1,564,000 after purchasing an additional 15,352 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. increased its stake in shares of TXNM Energy by 14.0% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 123,298 shares of the company's stock valued at $6,594,000 after purchasing an additional 15,146 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of TXNM Energy during the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Trading Down 0.2%

Shares of TXNM Energy stock traded down $0.13 on Thursday, reaching $56.53. 943,974 shares of the company were exchanged, compared to its average volume of 1,131,226. TXNM Energy, Inc. has a fifty-two week low of $40.47 and a fifty-two week high of $57.42. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.68 and a beta of 0.10. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The stock has a fifty day moving average price of $56.68 and a 200-day moving average price of $54.45.

TXNM Energy (NYSE:TXNM - Get Free Report) last released 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 company 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%. The company'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 year.

TXNM Energy Announces Dividend

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 $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 8th. TXNM Energy's dividend payout ratio (DPR) is 84.02%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TXNM. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays reissued an "overweight" rating and issued a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Scotiabank lifted their price objective 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. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Siebert Williams Shank cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.86.

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.