Segall Bryant & Hamill LLC Sells 21,847 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Segall Bryant & Hamill reduced its TXNM Energy stake by 5%, selling 21,847 shares and retaining 413,199 shares valued at approximately $24.2 million. Institutional investors collectively own 91.68% of the company.
• Analysts maintain a generally neutral outlook: TXNM has an average “Hold” rating and a consensus price target of $61.25, while Wall Street Zen downgraded the stock to “Sell.”
• TXNM shares opened at $57.93, near the lower end of their 52-week range. The company beat quarterly EPS estimates by reporting $0.58 versus $0.56 expected, but revenue fell short of forecasts; its quarterly dividend implies a 2.9% yield and a 121.58% payout ratio.

Segall Bryant & Hamill LLC reduced its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 413,199 shares of the company's stock after selling 21,847 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.37% of TXNM Energy worth $24,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TXNM. Balyasny Asset Management L.P. raised its position in shares of TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock worth $228,592,000 after purchasing an additional 3,133,794 shares during the last quarter. Norges Bank purchased a new stake in TXNM Energy during the 4th quarter valued at about $182,061,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in TXNM Energy by 420.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company's stock valued at $88,839,000 after purchasing an additional 1,227,627 shares during the last quarter. Citadel Advisors LLC grew its position in TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company's stock valued at $56,948,000 after purchasing an additional 1,002,011 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in TXNM Energy by 83.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company's stock valued at $99,279,000 after purchasing an additional 800,258 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on TXNM shares. Wall Street Zen cut shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of TXNM Energy in a report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, TXNM Energy presently has an average rating of "Hold" and a consensus target price of $61.25.

TXNM Energy Stock Down 0.1%

TXNM stock opened at $57.93 on Friday. TXNM Energy, Inc. has a 1-year low of $55.64 and a 1-year high of $59.53. The business has a fifty day moving average price of $57.73 and a 200-day moving average price of $58.55. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. The stock has a market capitalization of $6.41 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.50 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm had revenue of $548.55 million for the quarter, compared to the consensus estimate of $567.00 million. Equities analysts forecast 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. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.4225 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy's dividend payout ratio 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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