TD Asset Management Inc Has $3.10 Million Stake in TXNM Energy, Inc. $TXNM

Key Points

• TD Asset Management Inc reduced its stake in TXNM Energy by 39.9%, holding approximately $3.1 million worth of shares after selling 36,514 shares in the second quarter.
• The stock has received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $57.04.
• TXNM Energy announced a quarterly dividend of $0.4075 per share, representing a yield of 2.9%, with the ex-dividend date set for October 24th.

TD Asset Management Inc trimmed its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 39.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 55,066 shares of the company's stock after selling 36,514 shares during the period. TD Asset Management Inc owned approximately 0.05% of TXNM Energy worth $3,101,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of TXNM Energy by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after acquiring an additional 361,945 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of TXNM Energy by 41.4% during the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company's stock worth $190,406,000 after acquiring an additional 1,043,259 shares during the period. Reaves W H & Co. Inc. bought a new position in shares of TXNM Energy during the 1st quarter worth about $161,678,000. Westwood Holdings Group Inc. lifted its holdings in shares of TXNM Energy by 14.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock worth $98,323,000 after acquiring an additional 226,386 shares during the period. Finally, BROOKFIELD Corp ON bought a new position in shares of TXNM Energy during the 1st quarter worth about $94,216,000. 91.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Citigroup assumed coverage on shares of TXNM Energy in a report on Thursday, October 9th. They set a "neutral" rating and a $61.25 price objective for the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of TXNM Energy in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $57.04.

TXNM Energy Trading Up 0.1%

Shares of TXNM stock opened at $57.07 on Tuesday. TXNM Energy, Inc. has a 12-month low of $42.09 and a 12-month high of $57.42. The company has a market capitalization of $6.01 billion, a P/E ratio of 29.41, a P/E/G ratio of 2.70 and a beta of 0.06. The firm has a 50-day moving average price of $56.78 and a 200 day moving average price of $55.74. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Thursday, February 3rd. The company reported $0.15 earnings per share (EPS) for the quarter. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of ($1,163.74) million during the quarter. Research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy's payout ratio is currently 84.02%.

TXNM Energy Company 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.

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