iSAM Funds UK Ltd Takes $1.28 Million Position in TXNM Energy, Inc. $TXNM

iSAM Funds UK Ltd acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 22,792 shares of the company’s stock, valued at approximately $1,284,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TXNM. Vanguard Group Inc. boosted its position in shares of TXNM Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company’s stock worth $560,879,000 after purchasing an additional 361,945 shares during the period. Alliancebernstein L.P. lifted its stake in shares of TXNM Energy by 41.4% during the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock valued at $190,406,000 after buying an additional 1,043,259 shares in the last quarter. Geode Capital Management LLC boosted its holdings in TXNM Energy by 2.9% in 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 period. Norges Bank purchased a new stake in TXNM Energy in the 2nd quarter worth $99,354,000. Finally, BROOKFIELD Corp ON purchased a new stake in TXNM Energy in the 1st quarter worth $94,216,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $58.26 on Wednesday. The stock has a 50 day moving average of $57.39 and a 200 day moving average of $56.93. TXNM Energy, Inc. has a 12 month low of $45.71 and a 12 month high of $58.51. The firm has a market cap of $6.35 billion, a PE ratio of 34.07, a PEG ratio of 2.76 and a beta of 0.16. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35.

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 firm had revenue of $647.16 million during the quarter, compared to the consensus estimate of $608.65 million. TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.During the same period in the previous year, the firm earned $1.43 EPS. On average, research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.4225 per share. The ex-dividend date of this dividend is Friday, January 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s payout ratio is currently 95.32%.

Analyst Ratings Changes

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

Insider Buying and Selling

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of TXNM Energy stock in a transaction on Friday, November 14th. The shares were 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 $503,781.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.36% of the stock is owned by company insiders.

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.