TXNM Energy (NYSE:TXNM) Issues Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• TXNM Energy beat earnings expectations, reporting quarterly EPS of $0.58 versus the $0.56 consensus estimate. Revenue was $548.55 million, below analysts’ forecast of $567.00 million.
• The company declared a quarterly dividend of $0.4225, equivalent to $1.69 annually and a 2.9% yield, although its payout ratio is elevated at 121.58%.
• Shares closed at $57.93, near the middle of their 12-month range, while analysts maintain an average “Hold” rating and a $61.25 price target; institutional investors own 91.68% of the stock.

TXNM Energy (NYSE:TXNM - Get Free Report) posted its earnings results on Friday. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.02, FiscalAI reports. The business had revenue of $548.55 million for the quarter, compared to analysts' expectations of $567.00 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%.

TXNM Energy Price Performance

TXNM traded down $0.04 during trading on Friday, hitting $57.93. The company's stock had a trading volume of 1,000,122 shares, compared to its average volume of 1,356,333. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 41.68, a price-to-earnings-growth ratio of 2.49 and a beta of 0.17. The firm's 50 day moving average price is $57.76 and its two-hundred day moving average price is $58.55. TXNM Energy has a 12 month low of $55.64 and a 12 month high of $59.53.

TXNM Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a $0.4225 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy's payout ratio is presently 121.58%.

Institutional Trading of TXNM Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. grew its stake in shares of TXNM Energy by 344.9% during the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock valued at $228,592,000 after purchasing an additional 3,133,794 shares during the last quarter. Sona Asset Management US LLC raised its position in shares of TXNM Energy by 10.3% in the 4th quarter. Sona Asset Management US LLC now owns 1,834,874 shares of the company's stock valued at $108,037,000 after acquiring an additional 171,044 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of TXNM Energy by 83.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company's stock worth $99,279,000 after purchasing an additional 800,258 shares in the last quarter. Pentwater Capital Management LP lifted its holdings in TXNM Energy by 38.7% during the fourth quarter. Pentwater Capital Management LP now owns 1,651,000 shares of the company's stock worth $97,211,000 after acquiring an additional 461,000 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of TXNM Energy by 1.8% in the 3rd quarter. Northern Trust Corp now owns 1,196,845 shares of the company's stock valued at $67,682,000 after purchasing an additional 20,883 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TXNM. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research note on Sunday, July 5th. Weiss Ratings restated a "hold (c)" rating on shares of TXNM Energy in a research report on Friday, May 29th. 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 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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