Principal Financial Group Inc. Has $12.88 Million Stock Position in TXNM Energy, Inc. $TXNM

Key Points

• Principal Financial Group cut its TXNM Energy stake by 43.6% in Q1, but still held 220,414 shares valued at about $12.9 million.
• TXNM Energy’s stock has a Hold consensus rating from analysts, with a consensus target price of $61.25; one recent note downgraded it to Sell.
• The company recently reported mixed earnings—EPS of $0.21 missed estimates, while revenue came in close at $505 million—and it also announced a quarterly dividend of $0.4225 per share, yielding about 2.9%.

Principal Financial Group Inc. lessened its stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 43.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,414 shares of the company's stock after selling 170,255 shares during the quarter. Principal Financial Group Inc. owned about 0.20% of TXNM Energy worth $12,885,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in TXNM Energy during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its holdings in TXNM Energy by 23.0% in 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 in the last quarter. Kestra Advisory Services LLC acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $74,000. Larson Financial Group LLC grew its stake 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 acquiring an additional 623 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of TXNM Energy by 22.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock valued at $86,000 after acquiring an additional 268 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TXNM shares. 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 research report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $61.25.

TXNM Energy Trading Up 0.1%

TXNM opened at $58.34 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. TXNM Energy, Inc. has a fifty-two week low of $55.64 and a fifty-two week high of $59.53. The firm has a market capitalization of $6.46 billion, a PE ratio of 41.97, a P/E/G ratio of 2.51 and a beta of 0.17. The company's 50-day moving average is $57.87 and its 200 day moving average is $58.59.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). The business had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. TXNM Energy's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 EPS. As a group, research analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, August 3rd. TXNM Energy's dividend payout ratio (DPR) is currently 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.

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