TD Waterhouse Canada Inc. Has $2.58 Million Stock Position in TXNM Energy, Inc. $TXNM

Key Points

• TD Waterhouse Canada trimmed its stake in TXNM by 28.1%, selling 17,168 shares and leaving 43,829 shares valued at about $2.58 million in the latest 13F filing.
• Institutional ownership is very high at 91.68%, with large increases from Vanguard (up 16% to 11.57M shares) and Balyasny (up 344.9% to 4.04M shares), among others.
• TXNM reported a quarterly EPS miss ($0.48 vs. $0.60 est.) and revenue miss, disclosed a $0.4225 quarterly dividend (2.9% yield) with a 115.75% payout ratio, and carries a consensus analyst rating of "Hold" with a $60.88 price target.

TD Waterhouse Canada Inc. trimmed its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 28.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,829 shares of the company's stock after selling 17,168 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in TXNM Energy were worth $2,581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in TXNM Energy by 16.0% in the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company's stock worth $654,223,000 after purchasing an additional 1,598,954 shares during the period. Balyasny Asset Management L.P. increased its position in TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock worth $228,592,000 after purchasing an additional 3,133,794 shares during the period. Adage Capital Partners GP L.L.C. increased its position in TXNM Energy by 83.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company's stock worth $99,279,000 after purchasing an additional 800,258 shares during the period. Sona Asset Management US LLC grew its position in shares of TXNM Energy by 79.8% during the 3rd quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company's stock worth $94,090,000 after buying an additional 738,631 shares during the period. Finally, Northern Trust Corp grew its position in shares of TXNM Energy by 1.8% during the 3rd quarter. Northern Trust Corp now owns 1,196,845 shares of the company's stock worth $67,682,000 after buying an additional 20,883 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Price Performance

TXNM Energy stock opened at $58.84 on Thursday. The firm has a market capitalization of $6.41 billion, a P/E ratio of 40.30, a PEG ratio of 2.53 and a beta of 0.17. TXNM Energy, Inc. has a 1 year low of $51.59 and a 1 year high of $59.52. The business has a 50-day moving average of $58.86 and a 200-day moving average of $58.43. The company has a current ratio of 0.55, a quick ratio of 0.38 and a debt-to-equity ratio of 1.48.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.12). TXNM Energy had a net margin of 7.27% and a return on equity of 7.54%. The business had revenue of $533.23 million for the quarter, compared to the consensus estimate of $593.29 million. During the same quarter last year, the firm earned $0.30 EPS. On average, equities analysts anticipate that TXNM Energy, Inc. will post 3.09 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, April 27th. TXNM Energy's payout ratio is 115.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TXNM. Weiss Ratings restated a "hold (c+)" rating on shares of TXNM Energy in a research report on Monday, December 29th. Wall Street Zen upgraded TXNM Energy from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $60.88.

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. 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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