TXNM Energy, Inc. $TXNM Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 3,840.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 685,364 shares of the company’s stock after purchasing an additional 667,973 shares during the quarter. Hsbc Holdings PLC’s holdings in TXNM Energy were worth $39,998,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in shares of TXNM Energy during the 4th quarter worth $27,000. Smartleaf Asset Management LLC raised its holdings in TXNM Energy by 23.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after buying an additional 236 shares during the period. Kestra Advisory Services LLC acquired a new position in TXNM Energy in the fourth quarter valued at about $74,000. Larson Financial Group LLC lifted its position in TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after buying an additional 623 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in TXNM Energy by 22.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after buying an additional 268 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

TXNM has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings reaffirmed 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, According to MarketBeat.com, TXNM Energy currently has a consensus rating of “Hold” and an average price target of $61.25.

TXNM Energy Price Performance

TXNM stock opened at $57.85 on Tuesday. The business’s fifty day moving average price is $57.96 and its 200 day moving average price is $58.60. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53. 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 company has a market capitalization of $6.40 billion, a PE ratio of 41.62, a P/E/G ratio of 2.48 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The firm had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 earnings per share. On average, sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $1.145 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 annualized dividend and a dividend yield of 7.9%. TXNM Energy’s payout ratio is 121.58%.

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.