Alberta Investment Management Corp Buys New Shares in TXNM Energy, Inc. $TXNM

Key Points

• Alberta Investment Management Corp acquired 791,387 TXNM Energy shares worth approximately $44.9 million, representing a 0.77% stake. Institutional investors and hedge funds collectively own 91.68% of the company.
• Analysts maintain a generally neutral view, with three Hold ratings, an average rating of “Hold”, and an average price target of $61.25.
• TXNM Energy reported quarterly EPS of $0.58, exceeding estimates by $0.02, but revenue of $548.55 million fell short of expectations. The company pays a $1.69 annualized dividend, yielding 2.9%, with a high 93.37% payout ratio.

Alberta Investment Management Corp bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 791,387 shares of the company's stock, valued at approximately $44,935,000. Alberta Investment Management Corp owned 0.77% of TXNM Energy at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new position in TXNM Energy during the fourth quarter worth approximately $74,000. EverSource Wealth Advisors LLC raised its stake in TXNM Energy by 17.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company's stock worth $73,000 after purchasing an additional 184 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of 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 purchasing an additional 236 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company's stock valued at $78,000 after purchasing an additional 623 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TXNM has been the subject of several research reports. Wall Street Zen raised shares of TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy currently has an average rating of "Hold" and an average target price of $61.25.

TXNM Energy Stock Down 0.1%

Shares of NYSE TXNM opened at $57.37 on Monday. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 2.48 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. The stock's 50-day simple moving average is $57.35 and its 200-day simple moving average is $58.42.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The firm had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were issued a $0.4225 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy's dividend payout ratio is currently 93.37%.

TXNM Energy 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. 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.

Want to see what other hedge funds are holding TXNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TXNM Energy, Inc. (NYSE:TXNM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source