Thornburg Investment Management Inc. Decreases Stock Position in TXNM Energy, Inc. $TXNM

Thornburg Investment Management Inc. lowered its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 19.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 207,615 shares of the company’s stock after selling 50,447 shares during the period. Thornburg Investment Management Inc. owned approximately 0.19% of TXNM Energy worth $11,741,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Empowered Funds LLC purchased a new stake in TXNM Energy during the 1st quarter worth $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of TXNM Energy by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock valued at $15,902,000 after acquiring an additional 32,776 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of TXNM Energy by 99.0% during the second quarter. Teacher Retirement System of Texas now owns 24,932 shares of the company’s stock worth $1,404,000 after acquiring an additional 12,405 shares during the last quarter. New York Life Investment Management LLC acquired a new position in shares of TXNM Energy in the second quarter worth about $8,089,000. Finally, Jennison Associates LLC boosted its holdings in TXNM Energy by 234.1% in the second quarter. Jennison Associates LLC now owns 40,253 shares of the company’s stock valued at $2,267,000 after purchasing an additional 28,204 shares during the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $59.43 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 34.75, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16. TXNM Energy, Inc. has a twelve month low of $47.21 and a twelve month high of $59.52. The business has a 50 day simple moving average of $59.06 and a 200-day simple moving average of $57.86.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were paid a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 2.8%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, January 30th. TXNM Energy’s dividend payout ratio (DPR) is currently 98.83%.

Wall Street Analysts Forecast Growth

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

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.