TXNM Energy, Inc. $TXNM Shares Sold by ProShare Advisors LLC

Key Points

• ProShare Advisors cut its TXNM Energy stake by 86.8% in the third quarter, selling 116,508 shares and retaining 17,739 shares valued at about $1.04 million.
• TXNM reported quarterly EPS of $1.62, beating the $1.53 consensus estimate, while revenue of $733.29 million fell short of analyst expectations of $749.61 million.
• The company declared a quarterly dividend of $0.4225 per share, equivalent to an annualized $1.69 and a 2.9% yield; MarketBeat reports a consensus analyst rating of “Buy.”

ProShare Advisors LLC reduced its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 86.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,739 shares of the company's stock after selling 116,508 shares during the period. ProShare Advisors LLC's holdings in TXNM Energy were worth $1,035,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TXNM. Ameritas Advisory Services LLC acquired a new position in TXNM Energy in the 2nd quarter valued at about $30,000. Integrated Wealth Concepts LLC purchased a new stake in shares of TXNM Energy in the 2nd quarter valued at approximately $38,000. EverSource Wealth Advisors LLC increased its holdings in shares of TXNM Energy by 17.1% during the 1st 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 last quarter. Trust Co. of Vermont acquired a new stake in shares of TXNM Energy during the 2nd quarter worth approximately $85,000. Finally, Allworth Financial LP purchased a new stake in shares of TXNM Energy during the 2nd quarter valued at approximately $88,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Down 0.3%

Shares of TXNM opened at $58.23 on Friday. The company's 50-day moving average price is $58.35 and its 200 day moving average price is $58.38. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53. The company has a current ratio of 0.81, a quick ratio of 0.39 and a debt-to-equity ratio of 1.53. The firm has a market cap of $6.41 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.09. The company had revenue of $733.29 million during the quarter, compared to analyst estimates of $749.61 million. TXNM Energy had a net margin of 9.88% and a return on equity of 9.17%. On average, sell-side analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be issued a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, October 23rd. TXNM Energy's dividend payout ratio is currently 80.86%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings upgraded TXNM Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, November 2nd. Wall Street Zen raised TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock has a consensus rating of "Buy".

TXNM Energy Company Profile

TXNM Energy Inc NYSE: TXNM is an energy holding company that provides electricity and related utility services through its regulated subsidiaries. Its principal businesses are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP), which operate electric generation, transmission and distribution systems.

PNM serves residential, commercial and industrial customers in New Mexico, while TNMP provides regulated electric distribution service to communities in Texas.

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