River Road Asset Management LLC Cuts Stake in TXNM Energy, Inc. $TXNM

River Road Asset Management LLC reduced its position in TXNM Energy, Inc. (NYSE:TXNM) by 34.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 811,032 shares of the company’s stock after selling 435,170 shares during the quarter. River Road Asset Management LLC owned 0.74% of TXNM Energy worth $47,754,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TXNM. Invesco Ltd. raised its holdings in shares of TXNM Energy by 9.2% in the 4th quarter. Invesco Ltd. now owns 1,120,403 shares of the company’s stock valued at $65,969,000 after purchasing an additional 94,796 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of TXNM Energy during the fourth quarter valued at approximately $202,000. Alberta Investment Management Corp boosted its stake in shares of TXNM Energy by 1.9% during the fourth quarter. Alberta Investment Management Corp now owns 611,614 shares of the company’s stock valued at $36,012,000 after purchasing an additional 11,614 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of TXNM Energy by 16.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,663 shares of the company’s stock valued at $569,000 after purchasing an additional 1,347 shares in the last quarter. Finally, Vident Advisory LLC increased its holdings in TXNM Energy by 33.7% during the fourth quarter. Vident Advisory LLC now owns 12,624 shares of the company’s stock valued at $743,000 after buying an additional 3,183 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 1.0%

NYSE:TXNM opened at $56.99 on Friday. The company’s 50-day simple moving average is $58.83 and its 200-day simple moving average is $58.85. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. TXNM Energy, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $59.53. The stock has a market capitalization of $6.31 billion, a P/E ratio of 41.00, a P/E/G ratio of 2.43 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.21 EPS 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 for the quarter, compared to the consensus estimate of $506.24 million. During the same quarter last year, the firm earned $0.19 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. On average, equities analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $1.145 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend is Tuesday, June 30th. TXNM Energy’s dividend payout ratio is presently 121.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TXNM. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.