TXNM Energy, Inc. $TXNM Shares Bought by Magellan Asset Management Ltd

Magellan Asset Management Ltd grew its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 75.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,395 shares of the company’s stock after purchasing an additional 47,852 shares during the period. Magellan Asset Management Ltd’s holdings in TXNM Energy were worth $6,512,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TXNM. Empowered Funds LLC purchased a new position in shares of TXNM Energy in the first quarter valued at approximately $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in TXNM Energy by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock worth $15,902,000 after buying an additional 32,776 shares during the period. M&T Bank Corp increased its stake in TXNM Energy by 29.4% during the 2nd quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock worth $353,000 after buying an additional 1,426 shares during the period. EverSource Wealth Advisors LLC increased its stake in TXNM Energy by 215.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after buying an additional 1,043 shares during the period. Finally, Marshall Wace LLP lifted its holdings in TXNM Energy by 323.5% during the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock worth $7,130,000 after buying an additional 96,708 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Performance

Shares of TXNM opened at $58.06 on Wednesday. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The stock has a market capitalization of $6.43 billion, a PE ratio of 41.77, a PEG ratio of 2.49 and a beta of 0.17. 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 50-day simple moving average of $57.93 and a 200-day simple moving average of $58.60.

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

TXNM Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued 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 is Monday, August 3rd. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TXNM shares. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, TXNM Energy presently has an average rating of “Hold” and an average price target of $61.25.

TXNM Energy Company 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.