MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 6,857 Shares of TXNM Energy, Inc. $TXNM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in TXNM Energy by 12.1%, now owning approximately 63,758 shares valued at $3.41 million.
• TXNM Energy recently reported earnings of $0.25 per share, missing expectations, while its revenue increased by 2.9% year-over-year to $502.42 million.
• The stock has received mixed analyst ratings, with four analysts giving it a "Buy" rating and four issuing a "Hold," resulting in a consensus target price of $54.86.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 12.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,758 shares of the company's stock after buying an additional 6,857 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.07% of TXNM Energy worth $3,410,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in TXNM Energy during the 4th quarter worth approximately $874,000. Baird Financial Group Inc. bought a new position in TXNM Energy in the 4th quarter valued at $236,000. Captrust Financial Advisors bought a new position in TXNM Energy in the 4th quarter valued at $307,000. Cetera Investment Advisers bought a new position in TXNM Energy in the 4th quarter valued at $236,000. Finally, Janus Henderson Group PLC bought a new position in TXNM Energy in the 4th quarter valued at $1,891,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TXNM shares. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Barclays restated 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. Finally, Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.86.

TXNM Energy Stock Up 0.1%

Shares of TXNM traded up $0.07 during midday trading on Thursday, hitting $56.68. The stock had a trading volume of 905,224 shares, compared to its average volume of 731,816. The company has a 50 day simple moving average of $56.80 and a two-hundred day simple moving average of $55.03. TXNM Energy, Inc. has a twelve month low of $42.09 and a twelve month high of $57.42. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 2.68 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 (NYSE:TXNM - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. TXNM Energy's revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. TXNM Energy's dividend payout ratio (DPR) is currently 84.02%.

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.