TXNM Energy (NYSE:TXNM) Posts Earnings Results

TXNM Energy (NYSE:TXNM) issued its quarterly earnings results on Friday. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02, FiscalAI reports. The firm had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.

TXNM Energy Stock Down 0.1%

Shares of NYSE TXNM opened at $57.93 on Friday. TXNM Energy has a 12-month low of $55.64 and a 12-month high of $59.53. The stock has a market cap of $6.41 billion, a P/E ratio of 32.01, a PEG ratio of 2.50 and a beta of 0.17. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The business’s fifty day simple moving average is $57.73 and its 200-day simple moving average is $58.55.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a $0.4225 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s payout ratio is 93.37%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TXNM shares. 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 analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.25.

Institutional Investors Weigh In On TXNM Energy

A number of large investors have recently modified their holdings of the company. Orion Porfolio Solutions LLC purchased a new position in shares of TXNM Energy in the 3rd quarter valued at about $226,000. Empowered Funds LLC purchased a new stake in TXNM Energy during the fourth quarter worth approximately $219,000. Corient Private Wealth LLC purchased a new stake in TXNM Energy during the fourth quarter worth approximately $202,000. Virtus Investment Advisers LLC acquired a new position in TXNM Energy in the fourth quarter valued at approximately $162,000. Finally, Advisory Services Network LLC acquired a new position in TXNM Energy in the third quarter valued at approximately $112,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.