TXNM Energy, Inc. $TXNM Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its stake in TXNM Energy, Inc. by 2.7%, now holding 760,596 shares worth approximately $40.7 million.
• TXNM Energy reported $0.25 earnings per share for the last quarter, falling short of analysts' expectations of $0.46, despite revenue exceeding estimates at $502.42 million.
• The company recently announced a $0.4075 quarterly dividend, indicating an annualized yield of 2.9% with a payout ratio of 84.02%.

Gamco Investors INC. ET AL trimmed its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 760,596 shares of the company's stock after selling 20,822 shares during the period. Gamco Investors INC. ET AL owned 0.82% of TXNM Energy worth $40,677,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mariner LLC purchased a new position in TXNM Energy in the fourth quarter valued at about $1,012,000. NewEdge Advisors LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $53,000. First Trust Advisors LP acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $10,346,000. Dimensional Fund Advisors LP acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $78,859,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $393,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Trading Down 0.2%

NYSE TXNM traded down $0.13 during mid-day trading on Thursday, reaching $56.53. 943,974 shares of the stock were exchanged, compared to its average volume of 1,131,226. TXNM Energy, Inc. has a 1-year low of $40.47 and a 1-year high of $57.42. The business's fifty day simple moving average is $56.68 and its 200 day simple moving average is $54.45. The stock has a market capitalization of $5.96 billion, a PE ratio of 29.14, a PEG ratio of 2.68 and a beta of 0.10. 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 announced 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 was up 2.9% on a year-over-year basis. On average, research analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

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

Analyst Ratings Changes

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