The Manufacturers Life Insurance Company Sells 21,042 Shares of TXNM Energy, Inc. $TXNM

Key Points

• The Manufacturers Life Insurance Company sold 21,042 shares of TXNM Energy, reducing its stake by 5.3%, now holding 376,433 shares worth approximately $20.13 million.
• TXNM Energy reported a quarterly earnings miss, with earnings per share of $0.25 against analysts' expectations of $0.46, while revenue increased by 2.9% year-over-year.
• The company declared a quarterly dividend of $0.4075, representing an annualized yield of 2.9% and a payout ratio of 84.02%.

The Manufacturers Life Insurance Company lessened its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 376,433 shares of the company's stock after selling 21,042 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.41% of TXNM Energy worth $20,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in TXNM Energy by 4.9% in the 1st quarter. Federated Hermes Inc. now owns 6,115 shares of the company's stock worth $327,000 after purchasing an additional 285 shares during the last quarter. Hughes Financial Services LLC bought a new stake in TXNM Energy during the first quarter worth approximately $25,000. Cetera Investment Advisers boosted its position in TXNM Energy by 10.1% during the first quarter. Cetera Investment Advisers now owns 5,281 shares of the company's stock worth $282,000 after purchasing an additional 486 shares during the period. Versant Capital Management Inc bought a new stake in TXNM Energy during the first quarter worth approximately $35,000. Finally, Fifth Third Bancorp bought a new stake in TXNM Energy during the first quarter worth approximately $40,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TXNM shares. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Scotiabank lifted their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $61.00 price target (up from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, TXNM Energy has an average rating of "Moderate Buy" and an average target price of $54.86.

TXNM Energy Stock Performance

Shares of TXNM traded down $0.01 on Monday, reaching $56.87. 191,185 shares of the stock traded hands, compared to its average volume of 1,242,388. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.69 and a beta of 0.09. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. TXNM Energy, Inc. has a 12 month low of $40.47 and a 12 month high of $57.42. The stock's 50-day moving average price is $56.72 and its 200-day moving average price is $54.77.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). The firm had revenue of $502.42 million for 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 revenue was up 2.9% compared to the same quarter last year. Equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

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

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.