IFM Investors Pty Ltd Trims Stake in TXNM Energy, Inc. $TXNM

Key Points

• IFM Investors Pty Ltd has reduced its stake in TXNM Energy by 46.4%, now holding 6,364 shares valued at approximately $340,000.
• Recently, several hedge funds have shown interest in TXNM Energy, with BNP Paribas Financial Markets acquiring a new stake valued at about $874,000.
• TXNM Energy reported earnings per share of $0.25, missing estimates by $0.21, despite yearly revenue increasing by 2.9%.

IFM Investors Pty Ltd reduced its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 46.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,364 shares of the company's stock after selling 5,519 shares during the period. IFM Investors Pty Ltd's holdings in TXNM Energy were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TXNM. BNP Paribas Financial Markets purchased a new position in TXNM Energy in the 4th quarter worth approximately $874,000. Baird Financial Group Inc. purchased a new position in TXNM Energy in the 4th quarter worth approximately $236,000. Captrust Financial Advisors purchased a new position in TXNM Energy in the 4th quarter worth approximately $307,000. Cetera Investment Advisers purchased a new position in TXNM Energy in the 4th quarter worth approximately $236,000. Finally, Janus Henderson Group PLC purchased a new position in TXNM Energy in the 4th quarter worth approximately $1,891,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

Shares of TXNM traded up $0.04 during midday trading on Monday, hitting $56.90. 1,002,399 shares of the company traded hands, compared to its average volume of 821,204. The firm has a 50 day moving average of $56.78 and a 200-day moving average of $54.97. TXNM Energy, Inc. has a 52 week low of $42.09 and a 52 week high of $57.42. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.69 and a beta of 0.09. 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 released its quarterly earnings data on Friday, August 1st. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy's revenue was up 2.9% on a year-over-year basis. On average, analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.4075 per share. 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 is 84.02%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Scotiabank lifted their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, 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.