TXNM Energy, Inc. $TXNM Stock Position Trimmed by First Trust Advisors LP

First Trust Advisors LP trimmed its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 583,665 shares of the company's stock after selling 21,610 shares during the quarter. First Trust Advisors LP owned about 0.53% of TXNM Energy worth $34,121,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in TXNM Energy by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company's stock valued at $700,631,000 after purchasing an additional 330,382 shares in the last quarter. Balyasny Asset Management L.P. increased its position in shares of TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock worth $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank acquired a new stake in TXNM Energy during the 4th quarter valued at $182,061,000. Geode Capital Management LLC raised its position in TXNM Energy by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company's stock valued at $151,378,000 after buying an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of TXNM Energy by 53.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company's stock worth $113,704,000 after purchasing an additional 668,929 shares in the last quarter. Institutional investors own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

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

TXNM Energy Stock Performance

TXNM stock opened at $58.06 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. TXNM Energy, Inc. has a fifty-two week low of $55.64 and a fifty-two week high of $59.53. The stock has a market capitalization of $6.43 billion, a PE ratio of 41.77, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17. The company has a 50 day moving average price of $57.82 and a 200 day moving average price of $58.57.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. During the same period last year, the business posted $0.19 EPS. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts forecast that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy's payout ratio is presently 121.58%.

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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