Hsbc Holdings PLC Has $50.71 Million Stock Position in TXNM Energy, Inc. $TXNM

Key Points

• Hsbc Holdings increased its TXNM Energy stake by 29.8% in the second quarter, owning 889,385 shares valued at approximately $50.7 million. Institutional investors and hedge funds collectively hold 91.68% of the company.
• TXNM Energy reported quarterly EPS of $0.58, exceeding the $0.56 analyst estimate, while revenue of $548.55 million fell short of the $567 million consensus forecast.
• Analysts maintain a consensus “Hold” rating with an average price target of $61.25. The company pays a $1.69 annualized dividend, yielding about 2.9%, although its payout ratio is high at 93.37%.

Hsbc Holdings PLC lifted its stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 29.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 889,385 shares of the company's stock after purchasing an additional 204,021 shares during the quarter. Hsbc Holdings PLC owned about 0.86% of TXNM Energy worth $50,713,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in TXNM Energy during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its stake in TXNM Energy by 17.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company's stock valued at $73,000 after acquiring an additional 184 shares during the period. Smartleaf Asset Management LLC grew its stake in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company's stock valued at $74,000 after acquiring an additional 236 shares during the period. Kestra Advisory Services LLC acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $74,000. Finally, Larson Financial Group LLC increased its holdings in shares of TXNM Energy by 81.8% during the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company's stock valued at $78,000 after acquiring an additional 623 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXNM has been the topic of a number of research reports. Weiss Ratings raised TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of TXNM Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, TXNM Energy presently has a consensus rating of "Hold" and an average price target of $61.25.

TXNM Energy Trading Up 0.1%

TXNM opened at $58.03 on Tuesday. TXNM Energy, Inc. has a fifty-two week low of $55.64 and a fifty-two week high of $59.53. The firm has a market capitalization of $6.39 billion, a PE ratio of 32.06, a P/E/G ratio of 2.53 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The company's 50-day moving average is $57.48 and its 200 day moving average is $58.26.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. The business had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. As a group, research analysts predict that TXNM Energy, Inc. will post 3.03 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 3rd. TXNM Energy's dividend payout ratio (DPR) is currently 93.37%.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.

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