Intech Investment Management LLC Purchases 6,943 Shares of 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 raised its position in 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 SEC. The firm owned 50,390 shares of the company's stock after acquiring an additional 6,943 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of TXNM Energy worth $2,695,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in TXNM Energy by 4.9% in the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company's stock valued at $327,000 after acquiring an additional 285 shares during the period. Baird Financial Group Inc. raised its stake in shares of TXNM Energy by 6.0% in the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company's stock worth $272,000 after buying an additional 287 shares during the period. Hughes Financial Services LLC bought a new position in shares of TXNM Energy in the first quarter worth about $25,000. Cetera Investment Advisers raised its stake in shares of TXNM Energy by 10.1% in the first quarter. Cetera Investment Advisers now owns 5,281 shares of the company's stock worth $282,000 after buying an additional 486 shares during the period. Finally, Versant Capital Management Inc bought a new position in shares of TXNM Energy in the first quarter worth about $35,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

NYSE:TXNM opened at $56.85 on Monday. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.69 and a beta of 0.09. TXNM Energy, Inc. has a 1 year low of $41.65 and a 1 year high of $57.42. The business has a 50 day simple moving average of $56.77 and a 200-day simple moving average of $54.94. 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 (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). The company had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on TXNM. 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 note on Wednesday, May 21st. Scotiabank raised their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 20th. 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 cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. 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, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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