Raymond James Financial Inc. Has $39.21 Million Holdings in TXNM Energy, Inc. $TXNM

Key Points

• Raymond James Financial Inc. has reduced its holdings in TXNM Energy by 18.0%, now owning 0.79% of the company, valued at approximately $39.2 million.
• Several analysts have issued mixed ratings for TXNM, with Barclays upgrading its target price to $61.00 while Wall Street Zen downgraded it from "hold" to "sell."
• TXNM Energy reported earnings of $0.25 per share for the last quarter, missing estimates, but had a revenue of $502.42 million, exceeding expectations.

Raymond James Financial Inc. lowered its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 18.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,152 shares of the company's stock after selling 160,465 shares during the quarter. Raymond James Financial Inc. owned approximately 0.79% of TXNM Energy worth $39,209,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position 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 purchasing an additional 361,945 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $165,816,000. Reaves W H & Co. Inc. acquired a new position in shares of TXNM Energy in the 1st quarter worth approximately $161,678,000. Westwood Holdings Group Inc. grew its position in 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 last quarter. Finally, Point72 Asset Management L.P. bought a new stake in TXNM Energy during the 4th quarter worth approximately $84,090,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Price Performance

Shares of NYSE:TXNM traded up $0.0650 during trading on Monday, hitting $56.7950. 878,574 shares of the company were exchanged, compared to its average volume of 1,212,291. 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, Inc. has a 1-year low of $40.47 and a 1-year high of $57.42. The company has a market capitalization of $5.99 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 2.68 and a beta of 0.10. The business's 50 day moving average is $56.67 and its 200-day moving average is $54.37.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The business had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 8th. TXNM Energy's dividend payout ratio is 84.02%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Scotiabank increased their price objective on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.86.

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.