IFM Investors Pty Ltd Reduces Stock Holdings 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 lessened its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 46.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TXNM. BNP Paribas Financial Markets purchased a new position in TXNM Energy during the 4th quarter valued at about $874,000. Baird Financial Group Inc. purchased a new position in TXNM Energy during the 4th quarter valued at about $236,000. Captrust Financial Advisors purchased a new position in TXNM Energy during the 4th quarter valued at about $307,000. Cetera Investment Advisers purchased a new position in TXNM Energy during the 4th quarter valued at about $236,000. Finally, Janus Henderson Group PLC purchased a new position in TXNM Energy during the 4th quarter valued at about $1,891,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.86.

TXNM Energy Stock Performance

TXNM Energy stock traded up $0.07 during mid-day trading on Thursday, reaching $56.68. 905,224 shares of the company traded hands, compared to its average volume of 731,816. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. TXNM Energy, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $57.42. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.09. The firm's fifty day moving average is $56.80 and its two-hundred day moving average is $55.03.

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). 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 firm's quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a $0.4075 dividend. 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%.

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.