TXNM Energy, Inc. $TXNM Shares Sold by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. has reduced its stake in TXNM Energy by 36.4%, selling 52,218 shares and ending the quarter with 91,128 shares valued at approximately $4.87 million.
• TXNM Energy reported $0.25 earnings per share for the recent quarter, which fell short of the $0.46 consensus estimate, though revenue increased by 2.9% year-over-year.
• A quarterly dividend of $0.4075 per share was recently paid, representing a 2.9% yield, with a payout ratio of 84.02% as of the last fiscal quarter.

Panagora Asset Management Inc. lowered its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 36.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 91,128 shares of the company's stock after selling 52,218 shares during the period. Panagora Asset Management Inc. owned approximately 0.10% of TXNM Energy worth $4,874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $11,181,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $878,000. New York State Teachers Retirement System acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $4,682,000. KBC Group NV acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $188,000. Finally, Amalgamated Bank acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $2,135,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

TXNM has been the subject of a number of research analyst reports. Barclays reaffirmed 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 cut shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Scotiabank increased their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. Finally, Siebert Williams Shank cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.86.

TXNM Energy Stock Up 0.0%

TXNM stock traded up $0.01 during midday trading on Friday, hitting $56.83. The company's stock had a trading volume of 478,387 shares, compared to its average volume of 940,555. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a 52-week low of $40.47 and a 52-week high of $57.42. The firm has a market capitalization of $5.99 billion, a P/E ratio of 29.29, a PEG ratio of 2.69 and a beta of 0.09. The firm has a 50-day simple moving average of $56.72 and a 200-day simple moving average of $54.72.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly 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 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. TXNM Energy's revenue was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

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

TXNM Energy Company 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.