TXNM Energy, Inc. $TXNM Shares Sold by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in TXNM Energy by 18.5%, owning approximately 0.28% of the company valued at $13.85 million after selling 58,670 shares.
• Despite the reduction by Hotchkis, several other hedge funds like Vanguard Group Inc. and Westwood Holdings Group Inc. have increased their holdings in TXNM Energy during the same period.
• TXNM Energy's q2 earnings report revealed an EPS of $0.25, missing expectations, while also announcing a quarterly dividend of $0.4075 per share, reflecting a 2.9% dividend yield.

Hotchkis & Wiley Capital Management LLC cut its stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 18.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 258,880 shares of the company's stock after selling 58,670 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.28% of TXNM Energy worth $13,845,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TXNM. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy during the first quarter worth $25,000. Versant Capital Management Inc acquired a new stake in shares of TXNM Energy during the first quarter worth $35,000. LRI Investments LLC acquired a new stake in TXNM Energy in the fourth quarter valued at $40,000. Fifth Third Bancorp acquired a new stake in TXNM Energy in the first quarter valued at $40,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in TXNM Energy in the first quarter valued at $41,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Scotiabank raised their target price 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 downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and set a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Finally, Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.86.

TXNM Energy Price Performance

TXNM Energy stock traded down $0.13 during midday trading on Thursday, reaching $56.53. 943,769 shares of the company were exchanged, compared to its average volume of 1,269,860. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 2.68 and a beta of 0.10. The firm's 50-day simple moving average is $56.68 and its 200-day simple moving average is $54.40. TXNM Energy, Inc. has a 1 year low of $40.47 and a 1 year high of $57.42.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.21). The business had revenue of $502.42 million during the quarter, compared to analysts' expectations of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts anticipate 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 issued a dividend of $0.4075 per share. The ex-dividend date was Friday, August 8th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy's payout ratio is presently 84.02%.

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.