NBC Securities Inc. Cuts Stock Holdings in TXNM Energy, Inc. $TXNM

Key Points

• NBC Securities Inc. has reduced its holdings in TXNM Energy, Inc. by 47.0%, selling 35,532 shares during the second quarter and retaining 40,028 shares worth approximately $2.25 million.
• The company recently reported earnings of $0.25 per share, missing estimates, but had a revenue increase of 2.9% year-over-year, totaling $502.42 million.
• TXNM Energy announced a quarterly dividend of $0.4075 with a dividend yield of 2.9%, while also seeing a majority of its stock (91.68%) owned by institutional investors.

NBC Securities Inc. lessened its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 47.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,028 shares of the company's stock after selling 35,532 shares during the period. NBC Securities Inc.'s holdings in TXNM Energy were worth $2,254,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Separately, Siebert Williams Shank cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, TXNM Energy has an average rating of "Moderate Buy" and an average price target of $54.86.

TXNM Energy Trading Down 0.2%

Shares of TXNM Energy stock traded down $0.13 on Friday, hitting $56.59. 2,465,487 shares of the company's stock traded hands, compared to its average volume of 744,019. TXNM Energy, Inc. has a one year low of $42.09 and a one year high of $57.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The company has a fifty day moving average of $56.81 and a two-hundred day moving average of $55.06. The company has a market capitalization of $5.96 billion, a price-to-earnings 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 issued its quarterly earnings results 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 business had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. TXNM Energy's revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

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

TXNM Energy 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.