Goldman Sachs Group Inc. Acquires 668,929 Shares of TXNM Energy, Inc. $TXNM

Goldman Sachs Group Inc. raised its stake in TXNM Energy, Inc. (NYSE:TXNM) by 53.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,931,107 shares of the company’s stock after buying an additional 668,929 shares during the quarter. Goldman Sachs Group Inc. owned about 1.77% of TXNM Energy worth $113,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in shares of TXNM Energy by 280.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after acquiring an additional 756 shares in the last quarter. Jones Financial Companies Lllp lifted its position in TXNM Energy by 574.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after acquiring an additional 1,102 shares in the last quarter. Larson Financial Group LLC boosted its stake in TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after purchasing an additional 623 shares during the period. Farther Finance Advisors LLC increased its holdings in TXNM Energy by 22.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after purchasing an additional 268 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in TXNM Energy by 215.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after purchasing an additional 1,043 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Performance

Shares of TXNM opened at $58.09 on Tuesday. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 41.79, a PEG ratio of 2.56 and a beta of 0.16. TXNM Energy, Inc. has a 12 month low of $56.17 and a 12 month high of $59.53. The firm has a fifty day simple moving average of $59.09 and a 200 day simple moving average of $58.90. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46.

TXNM Energy (NYSE:TXNM) last issued its quarterly 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 analyst estimates of $506.24 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts forecast that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.145 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Tuesday, June 30th. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.

Analysts Set New Price Targets

A number of analysts have recently commented on TXNM shares. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.25.

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.