TXNM Energy, Inc. $TXNM Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC dramatically increased its stake in TXNM Energy during the first quarter, boosting its holdings by 3,840.9% to 685,364 shares valued at about $40 million. Institutional investors now own 91.68% of the company.
• Analyst sentiment is mixed but cautious: Weiss Ratings reiterated a hold rating, while Wall Street Zen cut the stock from hold to sell. The consensus rating remains Hold with a target price of $61.25.
• TXNM Energy reported Q1 earnings below expectations, posting EPS of $0.21 versus the $0.30 estimate, even as revenue rose 4.6% year over year. The company also raised its quarterly dividend to $1.145 per share, implying a 7.9% yield.

Hsbc Holdings PLC grew its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 3,840.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 685,364 shares of the company's stock after purchasing an additional 667,973 shares during the quarter. Hsbc Holdings PLC owned approximately 0.62% of TXNM Energy worth $39,998,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of TXNM Energy by 3.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,139 shares of the company's stock valued at $1,177,000 after buying an additional 600 shares during the last quarter. R Squared Ltd boosted its position in TXNM Energy by 460.4% during the first quarter. R Squared Ltd now owns 76,056 shares of the company's stock worth $4,446,000 after acquiring an additional 62,485 shares during the last quarter. Credit Industriel ET Commercial grew its stake in TXNM Energy by 23.5% during the 1st quarter. Credit Industriel ET Commercial now owns 154,653 shares of the company's stock valued at $9,041,000 after acquiring an additional 29,379 shares in the last quarter. DGS Capital Management LLC purchased a new stake in TXNM Energy during the 1st quarter valued at about $241,000. Finally, IFM Investors Pty Ltd acquired a new stake in TXNM Energy in the 1st quarter valued at about $417,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on TXNM shares. Weiss Ratings reissued a "hold (c)" rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research report on Sunday, July 5th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy has an average rating of "Hold" and a consensus target price of $61.25.

TXNM Energy Stock Up 0.8%

NYSE TXNM opened at $57.85 on Tuesday. The business's fifty day simple moving average is $57.96 and its 200-day simple moving average is $58.60. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The firm has a market cap of $6.40 billion, a PE ratio of 41.62, a P/E/G ratio of 2.48 and a beta of 0.17. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The firm had revenue of $504.98 million during the quarter, compared to analysts' expectations of $506.24 million. During the same period in the prior year, the company posted $0.19 EPS. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.145 dividend. This is a positive change from TXNM Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $4.58 annualized dividend and a dividend yield of 7.9%. TXNM Energy's dividend payout ratio is currently 121.58%.

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. 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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