Governors Lane LP lifted its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 142.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,079,170 shares of the company's stock after purchasing an additional 634,756 shares during the quarter. TXNM Energy accounts for about 4.6% of Governors Lane LP's portfolio, making the stock its 3rd biggest position. Governors Lane LP owned about 0.98% of TXNM Energy worth $61,275,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Corient Private Wealth LP raised its holdings in TXNM Energy by 8.3% during the 2nd quarter. Corient Private Wealth LP now owns 36,047 shares of the company's stock worth $2,047,000 after buying an additional 2,762 shares during the period. Amundi increased its position in shares of TXNM Energy by 1,911.2% during the second quarter. Amundi now owns 132,319 shares of the company's stock worth $7,513,000 after acquiring an additional 125,740 shares in the last quarter. Groupe la Francaise raised its holdings in shares of TXNM Energy by 9.7% during the second quarter. Groupe la Francaise now owns 341,953 shares of the company's stock worth $19,416,000 after acquiring an additional 30,121 shares during the period. California State Teachers Retirement System lifted its position in TXNM Energy by 5,416.3% in the 2nd quarter. California State Teachers Retirement System now owns 6,484,901 shares of the company's stock valued at $368,213,000 after acquiring an additional 6,367,343 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in TXNM Energy in the 2nd quarter worth $30,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
TXNM has been the topic of a number of research reports. Weiss Ratings upgraded TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Wall Street Zen upgraded TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $61.25.
Read Our Latest Research Report on TXNM
TXNM Energy Price Performance
NYSE:TXNM opened at $58.16 on Wednesday. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The company has a market cap of $6.40 billion, a P/E ratio of 32.13, a P/E/G ratio of 2.53 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. The stock's 50-day simple moving average is $57.51 and its 200 day simple moving average is $58.25.
TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The firm had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million. As a group, sell-side analysts forecast that TXNM Energy, Inc. will post 3.03 EPS for the current fiscal year.
TXNM Energy Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy's dividend payout ratio is 93.37%.
About TXNM Energy
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding TXNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TXNM Energy, Inc. (NYSE:TXNM - Free Report).
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