Northern Trust Corp Sells 16,287 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Northern Trust Corp reduced its stake in TXNM Energy, Inc. by 1.4%, holding approximately 1.24% of the company valued at $61.23 million after selling 16,287 shares in the first quarter.
• TXNM Energy reported quarterly earnings of $0.25 per share, missing consensus estimates by $0.21, despite a revenue increase of 2.9% year-over-year.
• The company declared a quarterly dividend of $0.4075, yielding 2.9%, with a dividend payout ratio of 84.02% as of its last reporting period.

Northern Trust Corp cut its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 1.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,144,884 shares of the company's stock after selling 16,287 shares during the period. Northern Trust Corp owned about 1.24% of TXNM Energy worth $61,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hughes Financial Services LLC purchased a new position in TXNM Energy during the first quarter valued at $25,000. Versant Capital Management Inc purchased a new position in TXNM Energy during the first quarter valued at $35,000. LRI Investments LLC purchased a new position in TXNM Energy during the fourth quarter valued at $40,000. Fifth Third Bancorp purchased a new position in TXNM Energy during the first quarter valued at $40,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in TXNM Energy during the first quarter valued at $41,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TXNM. Scotiabank raised their target price 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. Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen cut shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Finally, Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, TXNM Energy has an average rating of "Moderate Buy" and a consensus target price of $54.86.

TXNM Energy Price Performance

TXNM stock traded up $0.14 during trading on Monday, hitting $56.64. 643,600 shares of the company's stock traded hands, compared to its average volume of 1,111,901. TXNM Energy, Inc. has a 52 week low of $40.47 and a 52 week high of $57.42. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. The business has a fifty day simple moving average of $56.69 and a 200 day simple moving average of $54.60. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 2.68 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its 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 firm had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The business's revenue was up 2.9% on a year-over-year basis. As a group, research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 8th. 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.