IFP Advisors Inc Purchases New Shares in TXNM Energy, Inc. (NYSE:TXNM)

IFP Advisors Inc purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,278 shares of the company’s stock, valued at approximately $68,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TXNM. LPL Financial LLC bought a new position in shares of TXNM Energy during the fourth quarter worth approximately $470,000. Vanguard Group Inc. acquired a new stake in TXNM Energy during the fourth quarter worth approximately $497,880,000. Prudential Financial Inc. bought a new position in TXNM Energy during the 4th quarter worth $417,000. JPMorgan Chase & Co. acquired a new position in TXNM Energy in the 4th quarter valued at $31,972,000. Finally, Blair William & Co. IL bought a new stake in shares of TXNM Energy during the 4th quarter valued at $211,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Trading Down 0.2%

Shares of TXNM Energy stock opened at $56.64 on Thursday. The firm’s 50 day moving average is $56.60 and its 200 day moving average is $53.19. The firm has a market capitalization of $5.97 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $57.42. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The company had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. The company’s revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.4075 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.63 annualized dividend and a yield of 2.88%. TXNM Energy’s dividend payout ratio is presently 72.44%.

Analyst Upgrades and Downgrades

TXNM has been the topic of a number of recent analyst reports. Mizuho cut TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Scotiabank upped their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 20th. Barclays reiterated an “overweight” rating and set a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Siebert Williams Shank downgraded shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, TXNM Energy presently has an average rating of “Hold” and a consensus target price of $54.86.

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.