TXNM Energy (NYSE:TXNM) Sees Strong Trading Volume - Here's What Happened

Key Points

• TXNM Energy shares traded 933,264 shares, down 27% from the prior session, while the stock edged lower to $57.516 from a $57.61 close.
• Analysts remain neutral: recent firms upgraded their views to “Hold,” and the stock has an average “Hold” rating with a $61.25 target price. TXNM’s latest quarterly EPS of $0.58 exceeded estimates, though revenue fell short of forecasts.
• The company paid a quarterly dividend of $0.4225, equivalent to a 2.9% yield, while institutional investors own a substantial 91.68% of outstanding shares.

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report) saw strong trading volume on Tuesday . 933,264 shares changed hands during trading, a decline of 27% from the previous session's volume of 1,283,955 shares.The stock last traded at $57.5160 and had previously closed at $57.61.

Analyst Upgrades and Downgrades

Several research firms recently commented on TXNM. Weiss Ratings upgraded shares of TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy presently has an average rating of "Hold" and an average target price of $61.25.

TXNM Energy Stock Performance

The stock has a 50 day simple moving average of $57.41 and a 200 day simple moving average of $58.30. The company has a market cap of $5.95 billion, a price-to-earnings ratio of 31.89, a PEG ratio of 2.49 and a beta of 0.17. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.44.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. The business had revenue of $548.55 million during the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. As a group, analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $0.4225 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy's dividend payout ratio (DPR) is 93.37%.

Institutional Trading of TXNM Energy

A number of hedge funds have recently made changes to their positions in TXNM. Corient Private Wealth LP lifted its position in shares of TXNM Energy by 8.3% during the second quarter. Corient Private Wealth LP now owns 36,047 shares of the company's stock worth $2,047,000 after purchasing an additional 2,762 shares in the last quarter. Amundi grew its holdings in TXNM Energy by 1,911.2% during the 2nd quarter. Amundi now owns 132,319 shares of the company's stock valued at $7,513,000 after purchasing an additional 125,740 shares in the last quarter. Groupe la Francaise increased its stake in TXNM Energy by 9.7% during the 2nd quarter. Groupe la Francaise now owns 341,953 shares of the company's stock worth $19,416,000 after buying an additional 30,121 shares during the period. California State Teachers Retirement System increased its stake in TXNM Energy by 5,416.3% during the 2nd quarter. California State Teachers Retirement System now owns 6,484,901 shares of the company's stock worth $368,213,000 after buying an additional 6,367,343 shares during the period. Finally, Ameritas Advisory Services LLC purchased a new stake in TXNM Energy during the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

TXNM Energy Company 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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