TXNM Energy (NYSE:TXNM) Issues Quarterly 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 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.21), Zacks reports. TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The company had revenue of $502.42 million during the quarter, compared to analysts' expectations of $493.90 million. The firm's revenue for the quarter was up 2.9% on a year-over-year basis.

TXNM Energy Price Performance

TXNM Energy stock traded down $0.11 during mid-day trading on Friday, reaching $56.68. 781,276 shares of the company's stock traded hands, compared to its average volume of 1,284,322. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 2.68 and a beta of 0.13. The stock has a 50 day moving average of $56.60 and a two-hundred day moving average of $53.26. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. TXNM Energy has a 12-month low of $39.60 and a 12-month high of $57.42.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.63 dividend on an annualized basis and a yield of 2.9%. TXNM Energy's dividend payout ratio is presently 72.44%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in TXNM Energy stock. Empowered Funds LLC purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,229 shares of the company's stock, valued at approximately $547,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Siebert Williams Shank cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Scotiabank raised 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 note on Tuesday, May 20th. Finally, Barclays restated an "overweight" rating and set a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently 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.

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