Dimensional Fund Advisors LP Sells 895,184 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Dimensional Fund Advisors reduced its TXNM Energy stake by 58.6%, selling 895,184 shares in the first quarter and retaining 631,321 shares worth approximately $36.9 million. Institutional investors collectively own 91.68% of the company.
• Analysts maintain a cautious outlook: TXNM has an average “Hold” rating and a $61.25 price target, while Wall Street Zen recently downgraded the stock to “Sell.”
• TXNM Energy beat quarterly earnings expectations with EPS of $0.58 versus $0.56 forecast, although revenue missed estimates. The company declared a quarterly dividend of $0.4225 per share, representing a 2.9% yield and a high 93.37% payout ratio.

Dimensional Fund Advisors LP cut its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 58.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 631,321 shares of the company's stock after selling 895,184 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.57% of TXNM Energy worth $36,907,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of TXNM Energy in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its holdings in TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company's stock worth $74,000 after acquiring an additional 236 shares during the period. Kestra Advisory Services LLC purchased a new position in TXNM Energy in the fourth quarter worth $74,000. Larson Financial Group LLC boosted 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 worth $78,000 after purchasing an additional 623 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in TXNM Energy by 22.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock valued at $86,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

TXNM has been the subject of several research analyst reports. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research report on Sunday, July 5th. Weiss Ratings reissued a "hold (c)" rating on shares of TXNM Energy in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $61.25.

TXNM Energy Stock Performance

NYSE TXNM opened at $57.61 on Tuesday. The company has a fifty day moving average of $57.69 and a 200-day moving average of $58.54. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The company has a market capitalization of $6.38 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.50 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. TXNM Energy had a net margin of 9.04% and a return on equity of 8.19%. The company had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. As a group, equities research analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy's payout ratio is presently 93.37%.

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.

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