Pacer Advisors Inc. Takes $789,000 Position in TXNM Energy, Inc. (NYSE:TXNM)

Key Points

• Pacer Advisors Inc. has purchased a new stake in TXNM Energy, acquiring 14,747 shares valued at approximately $789,000 in the first quarter.
• TXNM Energy recently reported $482.79 million in revenue, exceeding analysts' estimates, but missed earnings expectations with an EPS of $0.19.
• The company announced a quarterly dividend of $0.4075, which equates to an annualized yield of 2.9%.

Pacer Advisors Inc. acquired a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,747 shares of the company's stock, valued at approximately $789,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers lifted its stake in TXNM Energy by 10.1% in the first quarter. Cetera Investment Advisers now owns 5,281 shares of the company's stock worth $282,000 after purchasing an additional 486 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in TXNM Energy in the first quarter worth $267,000. Y Intercept Hong Kong Ltd purchased a new position in TXNM Energy in the first quarter worth $401,000. Allianz Asset Management GmbH purchased a new position in TXNM Energy in the first quarter worth $4,843,000. Finally, IFP Advisors Inc purchased a new position in TXNM Energy in the first quarter worth $68,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Trading Down 0.5%

Shares of TXNM stock traded down $0.29 during trading hours on Tuesday, hitting $56.84. The company had a trading volume of 863,986 shares, compared to its average volume of 1,283,883. The company's fifty day moving average is $56.60 and its 200 day moving average is $53.39. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.19. TXNM Energy, Inc. has a fifty-two week low of $39.70 and a fifty-two week high of $57.42. The stock has a market capitalization of $5.99 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.68 and a beta of 0.10.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.21). The company had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. TXNM Energy had a return on equity of 7.82% and a net margin of 8.75%. The business'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 business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given 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 of this dividend is Friday, August 8th. TXNM Energy's dividend payout ratio (DPR) is 84.02%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TXNM shares. Scotiabank lifted their price target 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 research note on Thursday, May 22nd. Mizuho downgraded shares of 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. Finally, Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.