Hsbc Holdings PLC Increases Stake in TXNM Energy, Inc. $TXNM

Hsbc Holdings PLC lifted its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 9,170.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 354,425 shares of the company’s stock after buying an additional 350,602 shares during the quarter. Hsbc Holdings PLC owned approximately 0.34% of TXNM Energy worth $19,961,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Huntington National Bank lifted its stake in TXNM Energy by 1,307.0% in the second quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after acquiring an additional 562 shares during the last quarter. Smartleaf Asset Management LLC acquired a new position in shares of TXNM Energy during the first quarter worth $43,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in TXNM Energy in the first quarter valued at $54,000. Twin Tree Management LP purchased a new position in TXNM Energy in the first quarter valued at $58,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in TXNM Energy in the second quarter valued at $67,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TXNM Energy

In related news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the transaction, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.28% of the company’s stock.

TXNM Energy Trading Down 0.6%

TXNM opened at $58.06 on Wednesday. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a 52 week low of $45.71 and a 52 week high of $58.45. The business’s 50 day moving average is $57.24 and its two-hundred day moving average is $56.87. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). The business had revenue of $647.16 million for the quarter, compared to analysts’ expectations of $608.65 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.During the same quarter last year, the business posted $1.43 earnings per share. On average, research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a $0.4225 dividend. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, January 30th. TXNM Energy’s dividend payout ratio (DPR) is presently 95.32%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TXNM shares. Jefferies Financial Group cut TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Citigroup started coverage on TXNM Energy in a research note on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, TXNM Energy presently has a consensus rating of “Hold” and a consensus target price of $58.42.

TXNM Energy Company Profile

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.