TXNM Energy, Inc. $TXNM Shares Purchased by Groupe la Francaise

Key Points

• Groupe la Francaise increased its TXNM Energy stake by 161.2% in the first quarter, acquiring 192,446 additional shares and bringing its holdings to 311,832 shares valued at approximately $18.23 million. Institutional investors collectively own 91.68% of the company.
• TXNM Energy reported first-quarter earnings of $0.21 per share, missing analyst expectations of $0.30, while revenue rose 4.6% year over year to $504.98 million.
• The company declared a quarterly dividend of $0.4225 per share, equal to an annualized $1.69 dividend and a 2.9% yield. Analysts maintain an average “Hold” rating with a consensus price target of $61.25, compared with the stock’s $57.96 opening price.

Groupe la Francaise boosted its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 161.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 311,832 shares of the company's stock after acquiring an additional 192,446 shares during the period. Groupe la Francaise owned about 0.28% of TXNM Energy worth $18,230,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy in the 4th quarter valued at about $27,000. Kestra Advisory Services LLC acquired a new position in TXNM Energy during the fourth quarter worth approximately $74,000. EverSource Wealth Advisors LLC increased its position in TXNM Energy by 17.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company's stock worth $73,000 after buying an additional 184 shares during the period. Smartleaf Asset Management LLC lifted its stake in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company's stock valued at $74,000 after buying an additional 236 shares during the last quarter. Finally, Larson Financial Group LLC lifted 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 buying an additional 623 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Stock Up 0.5%

TXNM opened at $57.96 on Friday. The business has a 50 day moving average price of $57.76 and a two-hundred day moving average price of $58.55. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The company has a market cap of $6.42 billion, a PE ratio of 41.69, a P/E/G ratio of 2.49 and a beta of 0.17. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09). The company had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm'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 earnings per share. As a group, research analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy's dividend payout ratio (DPR) is currently 121.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TXNM shares. Weiss Ratings restated a "hold (c)" rating on shares of TXNM Energy in a research report on Friday, May 29th. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Sunday, July 5th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy currently has an average rating of "Hold" and an average price target of $61.25.

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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