TXNM Energy, Inc. $TXNM Shares Acquired by Resolution Capital Ltd

Key Points

• Resolution Capital Ltd increased its holdings in TXNM Energy, Inc. by 17.4% during the first quarter, owning 145,954 shares worth approximately $7.8 million.
• The company reported $0.25 earnings per share for the last quarter, missing the consensus estimate of $0.46, although revenue rose 2.9% year-over-year.
• TXNM Energy also declared a quarterly dividend of $0.4075, equating to an annualized dividend yield of 2.9%.

Resolution Capital Ltd increased its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 17.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,954 shares of the company's stock after purchasing an additional 21,621 shares during the period. TXNM Energy accounts for 0.2% of Resolution Capital Ltd's investment portfolio, making the stock its 24th biggest position. Resolution Capital Ltd owned about 0.16% of TXNM Energy worth $7,806,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new stake in TXNM Energy in the 1st quarter worth about $11,181,000. Allspring Global Investments Holdings LLC purchased a new position in shares of TXNM Energy during the 1st quarter worth about $878,000. New York State Teachers Retirement System acquired a new stake in shares of TXNM Energy in the first quarter worth approximately $4,682,000. KBC Group NV acquired a new stake in shares of TXNM Energy in the first quarter worth approximately $188,000. Finally, Amalgamated Bank purchased a new stake in TXNM Energy in the first quarter valued at approximately $2,135,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Up 0.2%

TXNM Energy stock traded up $0.10 during trading on Thursday, reaching $56.97. 714,559 shares of the company's stock were exchanged, compared to its average volume of 1,237,263. TXNM Energy, Inc. has a 52-week low of $40.77 and a 52-week high of $57.42. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 2.69 and a beta of 0.09. 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 company's 50-day moving average is $56.75 and its two-hundred day moving average is $54.83.

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 analysts' consensus estimates of $0.46 by ($0.21). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. The business's revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current 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. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.63 annualized dividend and a yield of 2.9%. TXNM Energy's payout ratio is 84.02%.

Analysts Set New Price Targets

TXNM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays restated an "overweight" rating and set a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Scotiabank upped their price target on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 20th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.86.

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.