Legal & General Group Plc Has $28.72 Million Stock Holdings in TXNM Energy, Inc. $TXNM

Legal & General Group Plc lessened its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 9.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 487,847 shares of the company’s stock after selling 48,245 shares during the period. Legal & General Group Plc’s holdings in TXNM Energy were worth $28,724,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TXNM. Balyasny Asset Management L.P. raised its position in TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after purchasing an additional 3,133,794 shares in the last quarter. Vanguard Group Inc. grew its stake in TXNM Energy by 16.0% during the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock worth $654,223,000 after buying an additional 1,598,954 shares during the last quarter. Citadel Advisors LLC grew its stake in TXNM Energy by 19,952.4% during the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock worth $56,948,000 after buying an additional 1,002,011 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in TXNM Energy by 83.1% during 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 buying an additional 800,258 shares during the last quarter. Finally, Sona Asset Management US LLC grew its stake in TXNM Energy by 79.8% during the third quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company’s stock worth $94,090,000 after buying an additional 738,631 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of TXNM stock opened at $59.25 on Friday. The firm’s 50 day moving average price is $59.00 and its two-hundred day moving average price is $58.84. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The stock has a market cap of $6.56 billion, a PE ratio of 42.62, a PEG ratio of 2.55 and a beta of 0.16. TXNM Energy, Inc. has a 52-week low of $56.17 and a 52-week high of $59.53.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. During the same quarter last year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, analysts forecast that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change 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 7.7%. TXNM Energy’s dividend payout ratio (DPR) is 121.58%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.25.

TXNM Energy 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.