Westwood Holdings Group Inc. Buys 226,386 Shares of TXNM Energy, Inc. (NYSE:TXNM)

Key Points

• Westwood Holdings Group Inc. has increased its stake in TXNM Energy, Inc. by 14.0%, now owning approximately 1.98% of the company, valued at about $98.3 million.
• TXNM Energy reported a quarterly earnings miss, with earnings per share of $0.25, significantly below the consensus estimate of $0.46, although revenue slightly exceeded expectations.
• TXNM Energy declared a quarterly dividend of $0.4075, translating to an annualized yield of 2.9%, with a payout ratio of 84.02%.

Westwood Holdings Group Inc. lifted its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 14.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,838,506 shares of the company's stock after purchasing an additional 226,386 shares during the quarter. Westwood Holdings Group Inc. owned 1.98% of TXNM Energy worth $98,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LPL Financial LLC acquired a new stake in TXNM Energy in the 4th quarter valued at approximately $470,000. Prudential Financial Inc. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $417,000. JPMorgan Chase & Co. bought a new stake in shares of TXNM Energy in the fourth quarter worth $31,972,000. Pictet Asset Management Holding SA acquired a new position in TXNM Energy during the fourth quarter worth $484,000. Finally, CIBC Private Wealth Group LLC acquired a new position in TXNM Energy during the fourth quarter worth $83,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Stock Up 0.1%

Shares of NYSE:TXNM traded up $0.04 during midday trading on Thursday, hitting $57.10. The stock had a trading volume of 1,198,491 shares, compared to its average volume of 1,281,464. TXNM Energy, Inc. has a 12 month low of $39.70 and a 12 month high of $57.42. The company has a quick ratio of 0.19, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The business's 50-day simple moving average is $56.63 and its 200-day simple moving average is $53.56. The company has a market cap of $6.02 billion, a P/E ratio of 29.43, a PEG ratio of 2.70 and a beta of 0.10.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.25 earnings per share 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 the consensus estimate of $493.90 million. TXNM Energy's revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Scotiabank raised their price target 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. Finally, Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, TXNM Energy has a consensus rating of "Hold" 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.