Quantbot Technologies LP Buys Shares of 58,595 TXNM Energy, Inc. $TXNM

Key Points

• Quantbot Technologies LP bought 58,595 shares of TXNM Energy in the second quarter, valued at approximately $3.33 million. Institutional investors collectively own 91.68% of the company.
• TXNM Energy reported quarterly EPS of $0.58, exceeding analyst expectations of $0.56, though revenue of $548.55 million fell short of the $567 million estimate.
• The company’s quarterly dividend equates to an annualized $1.69 payout and a 3.0% yield, while analysts maintain a consensus “Hold” rating with an average price target of $61.25.

Quantbot Technologies LP bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 58,595 shares of the company's stock, valued at approximately $3,327,000. Quantbot Technologies LP owned approximately 0.06% of TXNM Energy at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its holdings in TXNM Energy by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,787 shares of the company's stock valued at $221,000 after acquiring an additional 176 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in TXNM Energy by 17.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company's stock worth $73,000 after acquiring an additional 184 shares in the last quarter. Federated Hermes Inc. grew its position in shares of TXNM Energy by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 6,314 shares of the company's stock valued at $356,000 after purchasing an additional 199 shares during the period. Bank of Montreal Can increased its position in shares of TXNM Energy by 1.4% during the fourth quarter. Bank of Montreal Can now owns 15,804 shares of the company's stock worth $931,000 after acquiring an additional 219 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in TXNM Energy by 3.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,368 shares of the company's stock worth $372,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Trading Up 0.1%

Shares of TXNM Energy stock opened at $57.27 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.47 and a beta of 0.17. The company's 50-day moving average price is $57.34 and its 200-day moving average price is $58.37.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. The business had revenue of $548.55 million during the quarter, compared to analyst estimates of $567.00 million. On average, equities analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, August 3rd. TXNM Energy's dividend payout ratio is currently 93.37%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TXNM. Weiss Ratings raised TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Wall Street Zen raised TXNM Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $61.25.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.

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