Pacer Advisors Inc. Purchases 15,898 Shares of TXNM Energy, Inc. $TXNM

Pacer Advisors Inc. boosted its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 432.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,578 shares of the company’s stock after purchasing an additional 15,898 shares during the period. Pacer Advisors Inc.’s holdings in TXNM Energy were worth $1,107,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Baird Financial Group Inc. raised its holdings in shares of TXNM Energy by 6.0% in the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company’s stock worth $272,000 after buying an additional 287 shares during the period. PDT Partners LLC bought a new stake in shares of TXNM Energy during the first quarter worth $686,000. Federation des caisses Desjardins du Quebec lifted its position in shares of TXNM Energy by 55.3% during the first quarter. Federation des caisses Desjardins du Quebec now owns 44,780 shares of the company’s stock worth $2,395,000 after purchasing an additional 15,942 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of TXNM Energy by 22.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 962,500 shares of the company’s stock valued at $51,474,000 after purchasing an additional 175,000 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of TXNM Energy in the first quarter worth about $18,718,000. Institutional investors own 91.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on TXNM shares. Citigroup began coverage on shares of TXNM Energy in a research note on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday. Finally, Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and boosted their price target for the company from $58.00 to $61.25 in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.42.

Insider Activity at TXNM Energy

In other news, Director Vicky A. Bailey sold 1,800 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the transaction, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. The trade was a 17.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.28% of the company’s stock.

TXNM Energy Trading Down 0.1%

NYSE:TXNM opened at $58.88 on Friday. The firm has a 50-day simple moving average of $58.04 and a 200-day simple moving average of $57.19. TXNM Energy, Inc. has a one year low of $45.71 and a one year high of $59.12. The firm has a market cap of $6.41 billion, a P/E ratio of 34.43, a P/E/G ratio of 2.79 and a beta of 0.17. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). The business had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. During the same quarter in the prior year, the business posted $1.43 earnings per share. Equities analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.4225 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio (DPR) is 95.32%.

TXNM Energy Company Profile

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.