XTX Topco Ltd Takes $1.08 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

Key Points

• XTX Topco Ltd acquired a new position in TXNM Energy, purchasing 20,195 shares for approximately $1,080,000 during the first quarter.
• TXNM Energy reported earnings of $0.25 per share, missing analysts' expectations of $0.46, but achieved a revenue of $502.42 million, which exceeded estimates.
• The company announced a quarterly dividend of $0.4075 per share, with a dividend yield of 2.9%, to be paid on August 22nd.

XTX Topco Ltd bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,195 shares of the company's stock, valued at approximately $1,080,000.

A number of other institutional investors also recently modified their holdings of TXNM. Principal Financial Group Inc. purchased a new stake in TXNM Energy in the first quarter worth about $11,181,000. Allspring Global Investments Holdings LLC purchased a new stake in TXNM Energy in the first quarter worth about $878,000. New York State Teachers Retirement System purchased a new stake in TXNM Energy in the first quarter worth about $4,682,000. KBC Group NV purchased a new position in shares of TXNM Energy during the first quarter valued at approximately $188,000. Finally, Amalgamated Bank purchased a new position in shares of TXNM Energy during the first quarter valued at approximately $2,135,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

Shares of TXNM traded down $0.26 during trading hours on Tuesday, reaching $56.87. 1,494,433 shares of the stock traded hands, compared to its average volume of 1,250,997. The company has a market cap of $5.99 billion, a P/E ratio of 29.31, a price-to-earnings-growth 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 current ratio of 0.51, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. The company's 50-day moving average price is $56.61 and its two-hundred day moving average price is $53.48.

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 the consensus estimate of $0.46 by ($0.21). The business had revenue of $502.42 million for the quarter, compared to analysts' expectations of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The business'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 earnings per share for the current year.

TXNM Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays restated an "overweight" rating and set a $61.00 price target (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. 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. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Scotiabank lifted their target price 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. Finally, Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, TXNM Energy has an average rating of "Hold" and an average price target 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.