Man Group plc Invests $16.98 Million in TXNM Energy, Inc. $TXNM

Man Group plc bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 299,090 shares of the company's stock, valued at approximately $16,982,000. Man Group plc owned 0.29% of TXNM Energy as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TXNM. Los Angeles Capital Management LLC purchased a new stake in TXNM Energy in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its stake in shares of TXNM Energy by 17.1% during the 1st 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 increased its holdings in shares of TXNM Energy by 23.0% during 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of TXNM Energy during the 4th quarter valued at approximately $74,000. Finally, Larson Financial Group LLC lifted its stake 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 period. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

TXNM Energy Trading Up 0.0%

TXNM opened at $57.55 on Friday. The company's 50 day simple moving average is $57.39 and its two-hundred day simple moving average is $58.32. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 31.79, a price-to-earnings-growth ratio of 2.48 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. TXNM Energy, Inc. has a 1-year low of $55.64 and a 1-year high of $59.53.

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

TXNM Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a dividend of $0.4225 per share. 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 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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