Nexpoint Asset Management L.P. Grows Stock Position in TXNM Energy, Inc. $TXNM

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. boosted its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 108.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,350 shares of the company's stock after buying an additional 8,500 shares during the quarter. Nexpoint Asset Management L.P.'s holdings in TXNM Energy were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of TXNM. Hsbc Holdings PLC purchased a new stake in TXNM Energy in the fourth quarter worth $232,000. Susquehanna International Group LLP bought a new stake in shares of TXNM Energy during the 4th quarter valued at $2,877,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of TXNM Energy during the 4th quarter valued at $533,000. Comerica Bank bought a new stake in shares of TXNM Energy during the 4th quarter valued at $3,233,000. Finally, Jane Street Group LLC bought a new stake in shares of TXNM Energy during the 4th quarter valued at $3,692,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

TXNM Energy stock opened at $56.85 on Friday. TXNM Energy, Inc. has a 52 week low of $40.47 and a 52 week high of $57.42. The business has a 50-day simple moving average of $56.71 and a 200 day simple moving average of $54.68. 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 stock has a market cap of $5.99 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.68 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its earnings results 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 business had revenue of $502.42 million for the quarter, compared to analysts' expectations of $493.90 million. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

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

Analyst Ratings Changes

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

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.

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