Intech Investment Management LLC Grows Stake in TXNM Energy, Inc. $TXNM

Key Points

• Intech Investment Management LLC increased its stake in TXNM Energy, Inc. by 16.0%, acquiring an additional 6,943 shares, bringing its total to 50,390 shares valued at approximately $2.7 million.
• TXNM Energy reported a quarterly earnings miss with an EPS of $0.25, falling short of the consensus estimate of $0.46, though its revenue of $502.42 million was above expectations.
• The company declared a quarterly dividend of $0.4075 per share with an annualized dividend yield of 2.9%, while maintaining a dividend payout ratio of 84.02%.

Intech Investment Management LLC increased its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 16.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,390 shares of the company's stock after purchasing an additional 6,943 shares during the quarter. Intech Investment Management LLC owned 0.05% of TXNM Energy worth $2,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXNM. BNP Paribas Financial Markets purchased a new position in TXNM Energy in the fourth quarter worth about $874,000. Captrust Financial Advisors bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $307,000. Cetera Investment Advisers bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $236,000. Janus Henderson Group PLC bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $1,891,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $2,798,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Stock Performance

Shares of NYSE TXNM traded down $0.13 during trading on Friday, hitting $56.59. The company had a trading volume of 2,465,487 shares, compared to its average volume of 744,019. The stock has a 50 day simple moving average of $56.81 and a 200 day simple moving average of $55.06. 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, Inc. has a 12 month low of $42.09 and a 12 month high of $57.42. The firm has a market capitalization of $5.96 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.68 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted 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 return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. TXNM Energy's dividend payout ratio (DPR) is 84.02%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TXNM shares. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.86.

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.