Groupe la Francaise Raises Stake in TXNM Energy, Inc. $TXNM

Groupe la Francaise increased its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 9.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 341,953 shares of the company’s stock after purchasing an additional 30,121 shares during the quarter. Groupe la Francaise’s holdings in TXNM Energy were worth $19,416,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXNM. Pentwater Capital Management LP purchased a new stake in shares of TXNM Energy during the 2nd quarter valued at about $368,360,000. California State Teachers Retirement System grew its position in TXNM Energy by 5,416.3% in the second quarter. California State Teachers Retirement System now owns 6,484,901 shares of the company’s stock valued at $368,213,000 after acquiring an additional 6,367,343 shares in the last quarter. Balyasny Asset Management L.P. grew 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 valued at $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank purchased a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $182,061,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of TXNM Energy by 420.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock worth $88,839,000 after purchasing an additional 1,227,627 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

TXNM Energy stock opened at $58.03 on Monday. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. The stock has a market cap of $6.39 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The stock has a 50 day moving average of $57.46 and a 200-day moving average of $58.27.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. The business had revenue of $548.55 million during the quarter, compared to analyst estimates of $567.00 million. On average, analysts expect that TXNM Energy, Inc. will post 3.03 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 3rd. TXNM Energy’s dividend payout ratio is 93.37%.

Wall Street Analysts Forecast Growth

TXNM has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy has a consensus rating of “Hold” and a consensus price target of $61.25.

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.