Westwood Holdings Group Inc. Has $98.32 Million Stake in 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. grew its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 14.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,838,506 shares of the company's stock after purchasing an additional 226,386 shares during the period. Westwood Holdings Group Inc. owned about 1.98% of TXNM Energy worth $98,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TXNM. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy in the first quarter valued at approximately $25,000. Bessemer Group Inc. acquired a new position in TXNM Energy during the fourth quarter worth $27,000. Versant Capital Management Inc acquired a new stake in TXNM Energy in the first quarter valued at $35,000. Aster Capital Management DIFC Ltd acquired a new stake in TXNM Energy in the fourth quarter valued at $38,000. Finally, LRI Investments LLC bought a new position in shares of TXNM Energy in the 4th quarter valued at about $40,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of TXNM Energy stock traded down $0.38 during trading on Friday, reaching $56.73. The company's stock had a trading volume of 1,320,171 shares, compared to its average volume of 1,262,555. The business's 50-day moving average price is $56.63 and its 200-day moving average price is $53.62. The firm has a market cap of $5.98 billion, a PE ratio of 29.24, a P/E/G ratio of 2.70 and a beta of 0.10. TXNM Energy, Inc. has a 52 week low of $39.70 and a 52 week 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.

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

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is 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%.

Analyst Upgrades and Downgrades

TXNM has been the subject of a number of analyst reports. Scotiabank lifted their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays reissued an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.86.

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.