TXNM Energy, Inc. $TXNM Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC cut its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 34.9% in the fourth quarter, HoldingsChannel reports. 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’s holdings in TXNM Energy were worth $47,754,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Los Angeles Capital Management LLC purchased a new stake in shares of TXNM Energy during the fourth quarter worth about $27,000. Jones Financial Companies Lllp raised its position in shares of TXNM Energy by 574.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after purchasing an additional 1,102 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of TXNM Energy by 23.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after purchasing an additional 236 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of TXNM Energy in the 4th quarter valued at approximately $74,000. Finally, Larson Financial Group LLC boosted its stake in TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

TXNM has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Wall Street Zen lowered 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 MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and an average price target of $61.25.

TXNM Energy Trading Up 1.0%

TXNM Energy stock opened at $56.99 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a 52 week low of $56.17 and a 52 week high of $59.53. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.16. The stock has a 50-day moving average price of $58.83 and a 200 day moving average price of $58.85.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The firm had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. During the same quarter in the prior year, the company earned $0.19 EPS. TXNM Energy’s quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.145 per share. This represents a $4.58 annualized dividend and a yield of 8.0%. The ex-dividend date is Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.

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.