TXNM Energy, Inc. $TXNM Position Raised by Nexpoint Asset Management L.P.

Key Points

• Nexpoint Asset Management L.P. increased its stake in TXNM Energy, Inc. by 108.3%, owning 16,350 shares valued at approximately $874,000.
• TXNM Energy recently reported $0.25 EPS, missing the consensus estimate, though revenue for the quarter exceeded expectations at $502.42 million.
• The company declared a quarterly dividend of $0.4075, equating to an annualized dividend yield of 2.9% and a payout ratio of 84.02%.

Nexpoint Asset Management L.P. lifted its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 108.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,350 shares of the company's stock after purchasing an additional 8,500 shares during the quarter. Nexpoint Asset Management L.P.'s holdings in TXNM Energy were worth $874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of TXNM Energy by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after buying an additional 361,945 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of TXNM Energy by 41.4% in the first quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company's stock worth $190,406,000 after buying an additional 1,043,259 shares during the period. Zimmer Partners LP bought a new position in TXNM Energy during the 4th quarter valued at approximately $165,816,000. Reaves W H & Co. Inc. purchased a new position in shares of TXNM Energy during the first quarter valued at about $161,678,000. Finally, Westwood Holdings Group Inc. grew its position in shares of TXNM Energy by 14.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock worth $98,323,000 after buying an additional 226,386 shares during the period. 91.68% of the stock is owned by institutional investors.

TXNM Energy Trading Up 0.1%

Shares of NYSE:TXNM traded up $0.07 during midday trading on Wednesday, reaching $56.91. 182,296 shares of the company's stock were exchanged, compared to its average volume of 1,237,796. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.68 and a beta of 0.09. TXNM Energy, Inc. has a fifty-two week low of $40.47 and a fifty-two week 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 firm's 50 day simple moving average is $56.73 and its two-hundred day simple moving average is $54.81.

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 analysts' consensus estimates of $0.46 by ($0.21). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The business had revenue of $502.42 million during the quarter, compared to analysts' expectations of $493.90 million. The company's quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued 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 payout ratio is 84.02%.

Wall Street Analyst Weigh In

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