TXNM Energy, Inc. $TXNM Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP trimmed its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 18.3% during the second quarter, HoldingsChannel reports. The fund owned 372,964 shares of the company’s stock after selling 83,482 shares during the quarter. Readystate Asset Management LP’s holdings in TXNM Energy were worth $21,177,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on TXNM shares. Weiss Ratings upgraded TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, TXNM Energy presently has an average rating of “Hold” and an average target price of $61.25.

TXNM Energy Price Performance

Shares of TXNM opened at $58.03 on Monday. TXNM Energy, Inc. has a 12 month low of $55.64 and a 12 month high of $59.53. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The stock has a fifty day moving average price of $57.46 and a 200 day moving average price of $58.27. The company has a market cap of $6.39 billion, a P/E ratio of 32.06, a PEG ratio of 2.53 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. On average, research analysts forecast that TXNM Energy, Inc. will post 3.03 earnings per share for the current year.

TXNM Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is presently 93.37%.

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.