Wellington Management Group LLP Has $39.19 Million Stock Position in TXNM Energy, Inc. $TXNM

Key Points

• Wellington Management Group LLP sold 569,786 shares of TXNM Energy, reducing its stake by 43.7% in the first quarter, leaving it with 732,762 shares valued at approximately $39.18 million.
• TXNM Energy recently reported earnings per share of $0.25 for the quarter, falling short of analyst estimates of $0.46, while revenue increased by 2.9% year-over-year to $502.42 million.
• The company declared a quarterly dividend of $0.4075 per share, representing an annualized yield of 2.9%, with a payout ratio of 84.02%.

Wellington Management Group LLP cut its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 43.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 732,762 shares of the company's stock after selling 569,786 shares during the quarter. Wellington Management Group LLP owned about 0.79% of TXNM Energy worth $39,188,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXNM. LPL Financial LLC bought a new position in TXNM Energy in the fourth quarter valued at approximately $470,000. Mariner LLC bought a new position in TXNM Energy in the fourth quarter valued at approximately $1,012,000. NewEdge Advisors LLC bought a new position in TXNM Energy in the fourth quarter valued at approximately $53,000. CANADA LIFE ASSURANCE Co bought a new position in TXNM Energy in the fourth quarter valued at approximately $2,795,000. Finally, First Trust Advisors LP bought a new position in TXNM Energy in the fourth quarter valued at approximately $10,346,000. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Scotiabank lifted their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. Siebert Williams Shank cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Barclays reissued an "overweight" rating and set a $61.00 price target (up from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, TXNM Energy presently has a consensus rating of "Moderate Buy" and an average target price of $54.86.

TXNM Energy Stock Up 0.0%

TXNM stock traded up $0.01 during midday trading on Thursday, hitting $56.66. The company's stock had a trading volume of 386,890 shares, compared to its average volume of 1,266,403. 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 twelve month low of $40.47 and a twelve month high of $57.42. The company's fifty day moving average price is $56.68 and its 200 day moving average price is $54.40. The stock has a market capitalization of $5.97 billion, a P/E ratio of 29.20, a PEG ratio of 2.68 and a beta of 0.10.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued 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 business had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. The company's quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

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

About TXNM Energy

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.