Intech Investment Management LLC Grows Stock Holdings in TXNM Energy, Inc. $TXNM

Intech Investment Management LLC boosted its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 56.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 98,451 shares of the company’s stock after acquiring an additional 35,607 shares during the quarter. Intech Investment Management LLC owned about 0.09% of TXNM Energy worth $5,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of TXNM Energy by 16.0% during the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock worth $654,223,000 after purchasing an additional 1,598,954 shares during the period. Geode Capital Management LLC raised its position in TXNM Energy by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock worth $128,169,000 after buying an additional 63,240 shares during the last quarter. Norges Bank acquired a new stake in shares of TXNM Energy in the 2nd quarter worth $99,354,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of TXNM Energy by 83.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock valued at $99,279,000 after acquiring an additional 800,258 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of TXNM Energy by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 1,225,977 shares of the company’s stock worth $69,047,000 after acquiring an additional 32,959 shares during the period. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TXNM shares. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, TXNM Energy has a consensus rating of “Hold” and an average price target of $59.30.

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $59.05 on Friday. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.51 and a quick ratio of 0.36. The business’s 50 day simple moving average is $59.07 and its 200-day simple moving average is $57.89. TXNM Energy, Inc. has a 12 month low of $47.21 and a 12 month high of $59.52.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.12). The firm had revenue of $533.23 million for the quarter, compared to analyst estimates of $593.29 million. TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%. As a group, equities analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 27th will be given a $0.4225 dividend. The ex-dividend date is Monday, April 27th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s payout ratio is currently 98.83%.

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.