Landscape Capital Management L.L.C. Buys 8,691 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Landscape Capital Management L.L.C. increased its stake in TXNM Energy, Inc. by 179.5%, acquiring an additional 8,691 shares to hold a total of 13,534 shares worth approximately $724,000.
• TXNM Energy recently reported earnings of $0.25 per share for the quarter, which missed the consensus estimate of $0.46, although revenue was up 2.9% year-over-year at $502.42 million.
• The company declared a quarterly dividend of $0.4075 per share, translating to an annualized yield of 2.9% with a payout ratio of 84.02%.

Landscape Capital Management L.L.C. raised its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 179.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,534 shares of the company's stock after purchasing an additional 8,691 shares during the period. Landscape Capital Management L.L.C.'s holdings in TXNM Energy were worth $724,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TXNM. Zimmer Partners LP bought a new stake in TXNM Energy in the 4th quarter valued at $165,816,000. Reaves W H & Co. Inc. bought a new stake in TXNM Energy in the 1st quarter valued at $161,678,000. Point72 Asset Management L.P. bought a new stake in TXNM Energy in the 4th quarter valued at $84,090,000. Westwood Holdings Group Inc. bought a new stake in TXNM Energy in the 4th quarter valued at $79,268,000. Finally, Bank of America Corp DE bought a new stake in TXNM Energy in the 4th quarter valued at $77,923,000. 91.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TXNM shares. Scotiabank raised their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.86.

TXNM Energy Trading Up 0.2%

Shares of TXNM Energy stock opened at $56.64 on Friday. The stock has a market capitalization of $5.97 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 2.68 and a beta of 0.10. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The company has a 50-day simple moving average of $56.69 and a 200 day simple moving average of $54.53. TXNM Energy, Inc. has a 12-month low of $40.47 and a 12-month high of $57.42.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). The firm had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company's quarterly revenue was up 2.9% on a year-over-year basis. Research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

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

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