Savant Capital LLC Acquires 3,344 Shares of TXNM Energy, Inc. $TXNM

Savant Capital LLC raised its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 25.7% in the second quarter, Holdings Channel.com reports. The fund owned 16,348 shares of the company’s stock after acquiring an additional 3,344 shares during the quarter. Savant Capital LLC’s holdings in TXNM Energy were worth $921,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Huntington National Bank raised its holdings in shares of TXNM Energy by 1,307.0% during the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after purchasing an additional 562 shares in the last quarter. Bank of New York Mellon Corp increased its position in TXNM Energy by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 1,225,977 shares of the company’s stock worth $69,047,000 after buying an additional 32,959 shares during the last quarter. Alpine Associates Management Inc. bought a new position in TXNM Energy during the second quarter valued at about $10,971,000. State of Michigan Retirement System raised its stake in shares of TXNM Energy by 3.2% in the 2nd quarter. State of Michigan Retirement System now owns 22,289 shares of the company’s stock valued at $1,255,000 after acquiring an additional 700 shares in the last quarter. Finally, Strs Ohio boosted its position in TXNM Energy by 15.5% during the second quarter. Strs Ohio now owns 25,400 shares of the company’s stock worth $1,431,000 after purchasing an additional 3,400 shares during the period. 91.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TXNM. Weiss Ratings restated a “buy (b-)” rating on shares of TXNM Energy in a research note on Tuesday. Citigroup initiated coverage on shares of TXNM Energy in a research note on Thursday, October 9th. They issued a “neutral” rating and a $61.25 target price for the company. Finally, Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and lifted their target price for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.64.

TXNM Energy Trading Down 0.4%

Shares of TXNM Energy stock opened at $57.50 on Friday. TXNM Energy, Inc. has a 12-month low of $45.52 and a 12-month high of $57.90. The stock has a market capitalization of $6.26 billion, a P/E ratio of 29.64, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. The company has a 50-day simple moving average of $56.91 and a 200 day simple moving average of $56.37. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The firm had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. During the same period in the prior year, the company posted $1.43 earnings per share. Research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be given a $0.4075 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.63 annualized dividend and a yield of 2.8%. TXNM Energy’s payout ratio is presently 95.32%.

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.