Hsbc Holdings PLC Sells 365,558 Shares of TXNM Energy, Inc. $TXNM

Key Points

• HSBC Holdings PLC slashed its TXNM Energy stake by 95.5% in the fourth quarter, selling 365,558 shares and leaving it with 17,391 shares worth about $1.0 million.
• TXNM Energy reported mixed quarterly results, with EPS of $0.21 missing estimates of $0.30, while revenue came in at $504.98 million, roughly in line with expectations and up 4.6% year over year.
• The company announced a much larger quarterly dividend of $1.145 per share, implying an annualized yield of 8.0%, though the payout ratio is elevated at 121.58%.

Hsbc Holdings PLC reduced its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 95.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,391 shares of the company's stock after selling 365,558 shares during the period. Hsbc Holdings PLC's holdings in TXNM Energy were worth $1,025,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC bought a new stake in shares of TXNM Energy during the 1st quarter valued at $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of TXNM Energy by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company's stock valued at $15,902,000 after purchasing an additional 32,776 shares during the period. M&T Bank Corp boosted its position in shares of TXNM Energy by 29.4% in the 2nd quarter. M&T Bank Corp now owns 6,271 shares of the company's stock worth $353,000 after purchasing an additional 1,426 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of TXNM Energy by 215.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company's stock worth $86,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of TXNM Energy by 323.5% during the second quarter. Marshall Wace LLP now owns 126,600 shares of the company's stock worth $7,130,000 after purchasing an additional 96,708 shares during the period. 91.68% of the stock is owned by institutional investors.

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $57.14 on Tuesday. The company has a market capitalization of $6.33 billion, a PE ratio of 41.11, a PEG ratio of 2.45 and a beta of 0.17. TXNM Energy, Inc. has a 12 month low of $55.64 and a 12 month high of $59.53. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The stock's fifty day simple moving average is $58.13 and its 200 day simple moving average is $58.66.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. On average, research analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.145 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $4.58 annualized dividend and a dividend yield of 8.0%. This is a boost from TXNM Energy's previous quarterly dividend of $0.42. TXNM Energy's payout ratio is presently 121.58%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TXNM shares. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Weiss Ratings restated a "hold (c)" rating on shares of TXNM Energy in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, TXNM Energy currently has a consensus rating of "Hold" and an average target price of $61.25.

TXNM Energy 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. 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.

Want to see what other hedge funds are holding TXNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TXNM Energy, Inc. (NYSE:TXNM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.