TXNM Energy, Inc. $TXNM Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in TXNM Energy, Inc. (NYSE:TXNM) by 61.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,164 shares of the company’s stock after selling 352,368 shares during the period. Victory Capital Management Inc. owned 0.20% of TXNM Energy worth $12,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in TXNM Energy during the 2nd quarter worth about $99,354,000. Vanguard Group Inc. increased its holdings in shares of TXNM Energy by 16.0% in the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock valued at $654,223,000 after purchasing an additional 1,598,954 shares during the period. LMR Partners LLP purchased a new position in shares of TXNM Energy in the second quarter worth about $48,291,000. Adage Capital Partners GP L.L.C. raised its stake 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 worth $99,279,000 after purchasing an additional 800,258 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of TXNM Energy by 397.2% during the second quarter. Balyasny Asset Management L.P. now owns 908,507 shares of the company’s stock worth $51,167,000 after purchasing an additional 725,794 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.88.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $58.56 on Thursday. TXNM Energy, Inc. has a 52-week low of $47.69 and a 52-week high of $59.52. The company has a quick ratio of 0.38, a current ratio of 0.55 and a debt-to-equity ratio of 1.48. The stock has a market cap of $6.38 billion, a PE ratio of 40.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.17. The business has a 50-day simple moving average of $59.07 and a 200-day simple moving average of $58.01.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.12). TXNM Energy had a net margin of 7.27% and a return on equity of 7.54%. The company had revenue of $533.23 million for the quarter, compared to analysts’ expectations of $593.29 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. On average, equities analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy’s payout ratio is 115.75%.

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.