Principal Financial Group Inc. Sells 170,255 Shares of TXNM Energy, Inc. $TXNM

Principal Financial Group Inc. trimmed its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 43.6% during the first quarter, Holdings Channel.com reports. The fund owned 220,414 shares of the company’s stock after selling 170,255 shares during the quarter. Principal Financial Group Inc.’s holdings in TXNM Energy were worth $12,885,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TXNM. SG Americas Securities LLC boosted its holdings in TXNM Energy by 105.0% during the fourth quarter. SG Americas Securities LLC now owns 24,279 shares of the company’s stock worth $1,430,000 after purchasing an additional 12,434 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in TXNM Energy in the 4th quarter valued at about $2,354,000. Tudor Investment Corp ET AL increased its stake in TXNM Energy by 35.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 270,120 shares of the company’s stock valued at $15,275,000 after buying an additional 70,120 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of TXNM Energy by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock worth $700,631,000 after buying an additional 330,382 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of TXNM Energy by 54.2% during the 4th quarter. UBS Group AG now owns 1,244,976 shares of the company’s stock worth $73,304,000 after buying an additional 437,727 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $58.34 on Friday. The company has a market capitalization of $6.46 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17. The company’s 50-day moving average is $57.87 and its 200 day moving average is $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 posted its quarterly earnings data 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 company had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $506.24 million. During the same quarter last year, the business posted $0.19 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, equities research analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TXNM shares. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, TXNM Energy presently has a consensus rating of “Hold” and a consensus target price 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.