Gamco Investors INC. ET AL Sells 18,114 Shares of TXNM Energy, Inc. $TXNM

Gamco Investors INC. ET AL reduced its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 2.3% during the first quarter, Holdings Channel reports. The firm owned 755,326 shares of the company’s stock after selling 18,114 shares during the period. Gamco Investors INC. ET AL’s holdings in TXNM Energy were worth $44,156,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in TXNM Energy in the 4th quarter worth about $27,000. Smartleaf Asset Management LLC lifted its position in shares of TXNM Energy by 23.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after buying an additional 236 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of TXNM Energy during the 4th quarter worth approximately $74,000. Larson Financial Group LLC lifted its position in shares of TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after buying an additional 623 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of TXNM Energy by 22.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after buying an additional 268 shares during the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

TXNM opened at $58.34 on Friday. The firm has a market cap of $6.46 billion, a P/E ratio of 41.97, a PEG ratio of 2.51 and a beta of 0.17. The firm has a 50-day moving average of $57.87 and a 200 day moving average of $58.59. 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 $55.64 and a fifty-two week high of $59.53.

TXNM Energy (NYSE:TXNM) last announced 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). The company had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. On average, research analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.4225 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.

Wall Street Analysts Forecast Growth

TXNM has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, TXNM Energy has a consensus rating of “Hold” and an average target price 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.