Olympiad Research LP Invests $996,000 in TXNM Energy, Inc. $TXNM

Olympiad Research LP bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, Holdings Channel.com reports. The fund bought 17,693 shares of the company’s stock, valued at approximately $996,000. TXNM Energy accounts for 1.6% of Olympiad Research LP’s investment portfolio, making the stock its 8th biggest position.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in TXNM Energy by 3.8% in the first quarter. Envestnet Asset Management Inc. now owns 107,498 shares of the company’s stock valued at $5,749,000 after buying an additional 3,917 shares during the period. M&T Bank Corp acquired a new stake in TXNM Energy during the 1st quarter worth about $259,000. Allworth Financial LP bought a new position in shares of TXNM Energy in the 1st quarter worth about $70,000. Arizona State Retirement System acquired a new position in shares of TXNM Energy in the 1st quarter valued at about $1,315,000. Finally, Mutual of America Capital Management LLC acquired a new position in shares of TXNM Energy in the 1st quarter valued at about $2,483,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Trading Down 0.4%

TXNM opened at $57.50 on Friday. TXNM Energy, Inc. has a fifty-two week low of $45.52 and a fifty-two week high of $57.90. The firm has a market capitalization of $6.26 billion, a PE ratio of 29.64, a P/E/G ratio of 2.69 and a beta of 0.13. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The company’s 50-day moving average is $56.91 and its 200 day moving average is $56.37.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, October 24th. TXNM Energy’s dividend payout ratio is presently 95.32%.

Analyst Ratings Changes

Several research firms recently commented on TXNM. Jefferies Financial Group cut TXNM Energy from a “buy” rating to a “hold” rating and raised their target price for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TXNM Energy in a research report on Tuesday. Finally, Citigroup assumed coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price on the stock. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.64.

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.