Panagora Asset Management Inc. Sells 52,218 Shares of TXNM Energy, Inc. $TXNM

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. decreased its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 36.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 91,128 shares of the company's stock after selling 52,218 shares during the period. Panagora Asset Management Inc. owned 0.10% of TXNM Energy worth $4,874,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TXNM. Zimmer Partners LP purchased a new stake in TXNM Energy during the fourth quarter valued at about $165,816,000. Reaves W H & Co. Inc. bought a new stake in shares of TXNM Energy in the first quarter valued at approximately $161,678,000. Point72 Asset Management L.P. purchased a new stake in shares of TXNM Energy during the 4th quarter valued at approximately $84,090,000. Westwood Holdings Group Inc. bought a new position in TXNM Energy in the 4th quarter worth approximately $79,268,000. Finally, Bank of America Corp DE bought a new position in TXNM Energy in the 4th quarter worth approximately $77,923,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Price Performance

TXNM Energy stock traded up $0.01 during mid-day trading on Friday, hitting $56.83. 478,387 shares of the company traded hands, compared to its average volume of 898,466. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy, Inc. has a one year low of $40.47 and a one year high of $57.42. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.69 and a beta of 0.09. The stock has a fifty day moving average price of $56.72 and a 200-day moving average price of $54.77.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced 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). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. The company's revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

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

Wall Street Analyst Weigh In

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