TXNM Energy (NYSE:TXNM) Announces Earnings Results

Key Points

• TXNM Energy reported a quarterly earnings per share (EPS) of $0.25, missing the consensus estimate of $0.46 by $0.21, despite revenue of $502.42 million exceeding expectations.
• The company declared a quarterly dividend of $0.4075 per share, with an annualized yield of 2.9% and a payout ratio of 72.44%.
• Recent analyst ratings have been mixed, with one firm lowering their rating to sell and another raising the price target to $60.00, leading to an average price target of $54.86.

TXNM Energy (NYSE:TXNM - Get Free Report) posted its earnings results on Friday. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21), Zacks reports. TXNM Energy had a return on equity of 7.82% and a net margin of 8.75%. The business had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. The business's revenue was up 2.9% on a year-over-year basis.

TXNM Energy Stock Down 0.6%

Shares of TXNM traded down $0.35 during mid-day trading on Tuesday, hitting $56.78. The company's stock had a trading volume of 612,865 shares, compared to its average volume of 1,281,311. The company's 50-day moving average is $56.60 and its 200-day moving average is $53.39. TXNM Energy has a 52-week low of $39.70 and a 52-week high of $57.42. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.68 and a beta of 0.10. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.80.

TXNM Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

TXNM has been the topic of a number of research reports. Scotiabank boosted their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays reiterated 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. Finally, Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $54.86.

Institutional Investors Weigh In On TXNM Energy

An institutional investor recently bought a new position in TXNM Energy stock. Empowered Funds LLC purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,229 shares of the company's stock, valued at approximately $547,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

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.