The Manufacturers Life Insurance Company Has $20.13 Million Stock Holdings in 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 trimmed its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 376,433 shares of the company's stock after selling 21,042 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.41% of TXNM Energy worth $20,132,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC bought a new position in TXNM Energy during the first quarter valued at about $25,000. Versant Capital Management Inc bought a new position in TXNM Energy during the first quarter valued at about $35,000. Fifth Third Bancorp bought a new position in TXNM Energy during the first quarter valued at about $40,000. Financial Gravity Asset Management Inc. bought a new position in TXNM Energy during the first quarter valued at about $41,000. Finally, Smartleaf Asset Management LLC bought a new position in TXNM Energy during the first quarter valued at about $43,000. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Price Performance

Shares of TXNM traded up $0.01 on Friday, hitting $56.83. The company's stock had a trading volume of 478,387 shares, compared to its average volume of 940,555. The company has a market capitalization of $5.99 billion, a PE ratio of 29.29, a PEG 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 fifty-two week low of $40.47 and a fifty-two week high of $57.42. The company has a 50 day moving average price of $56.72 and a 200 day moving average price of $54.75.

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

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued 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 dividend payout ratio is currently 84.02%.

Wall Street Analysts Forecast Growth

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