TXNM Energy (NYSE:TXNM) Announces Quarterly Earnings Results

TXNM Energy (NYSE:TXNM) announced its quarterly earnings results on Friday. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.12), FiscalAI reports. The firm had revenue of $533.23 million for the quarter, compared to the consensus estimate of $593.29 million. TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.

TXNM Energy Stock Performance

NYSE TXNM opened at $59.05 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $6.43 billion, a P/E ratio of 40.44, a P/E/G ratio of 2.53 and a beta of 0.16. TXNM Energy has a 12-month low of $47.21 and a 12-month high of $59.52. The firm has a 50-day moving average price of $59.07 and a two-hundred day moving average price of $57.89.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be given a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy’s payout ratio is presently 98.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Evolve Private Wealth LLC bought a new position in TXNM Energy during the fourth quarter valued at approximately $231,000. Orion Porfolio Solutions LLC purchased a new stake in TXNM Energy during the 3rd quarter valued at $226,000. Empowered Funds LLC purchased a new stake in TXNM Energy during the 4th quarter valued at $219,000. Corient Private Wealth LLC bought a new position in shares of TXNM Energy during the 4th quarter valued at $202,000. Finally, Virtus Investment Advisers LLC purchased a new position in shares of TXNM Energy in the 4th quarter worth $162,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analysts Set New Price Targets

TXNM has been the topic of several research reports. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.30.

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. 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.