Resolution Capital Ltd Boosts Stock Position in TXNM Energy, Inc. $TXNM

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 lifted 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 disclosure with the SEC. The institutional investor owned 145,954 shares of the company's stock after purchasing an additional 21,621 shares during the quarter. TXNM Energy accounts for approximately 0.2% of Resolution Capital Ltd's investment portfolio, making the stock its 24th largest position. Resolution Capital Ltd owned 0.16% of TXNM Energy worth $7,806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in TXNM Energy by 3.6% during the first quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after buying an additional 361,945 shares during the period. Alliancebernstein L.P. boosted its stake in TXNM Energy by 41.4% during the first quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company's stock worth $190,406,000 after buying an additional 1,043,259 shares during the period. Zimmer Partners LP purchased a new position in TXNM Energy during the fourth quarter worth $165,816,000. Reaves W H & Co. Inc. purchased a new position in TXNM Energy during the first quarter worth $161,678,000. Finally, Westwood Holdings Group Inc. boosted its stake in TXNM Energy by 14.0% during the first quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock worth $98,323,000 after buying an additional 226,386 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.0%

Shares of TXNM opened at $56.83 on Friday. The firm has a market capitalization of $5.99 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.69 and a beta of 0.09. TXNM Energy, Inc. has a 12-month low of $40.47 and a 12-month high of $57.42. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The firm has a fifty day moving average price of $56.72 and a 200-day moving average price of $54.72.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.21). The firm had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The business's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on TXNM shares. Scotiabank lifted 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 note on Tuesday, May 20th. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays reissued an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Finally, Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.86.

TXNM Energy 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.

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