Olympiad Research LP Invests $996,000 in TXNM Energy, Inc. $TXNM

Olympiad Research LP purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 17,693 shares of the company’s stock, valued at approximately $996,000. TXNM Energy makes up 1.6% of Olympiad Research LP’s holdings, making the stock its 8th largest position.

Several other institutional investors have also made changes to their positions in the stock. Parallel Advisors LLC raised its holdings in TXNM Energy by 15.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,331 shares of the company’s stock valued at $75,000 after acquiring an additional 183 shares in the last quarter. Securian Asset Management Inc. increased its position in shares of TXNM Energy by 3.5% in the second quarter. Securian Asset Management Inc. now owns 7,056 shares of the company’s stock worth $397,000 after purchasing an additional 238 shares during the period. IFM Investors Pty Ltd increased its position in shares of TXNM Energy by 4.2% in the second quarter. IFM Investors Pty Ltd now owns 6,630 shares of the company’s stock worth $373,000 after purchasing an additional 266 shares during the period. Federated Hermes Inc. raised its stake in TXNM Energy by 4.9% in the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company’s stock valued at $327,000 after purchasing an additional 285 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its position in TXNM Energy by 6.0% during the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company’s stock worth $272,000 after purchasing an additional 287 shares during the period. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Price Performance

Shares of TXNM opened at $57.50 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The stock has a market cap of $6.26 billion, a PE ratio of 29.64, a PEG ratio of 2.69 and a beta of 0.13. TXNM Energy, Inc. has a 12-month low of $45.52 and a 12-month high of $57.90. The business has a 50-day simple moving average of $56.91 and a two-hundred day simple moving average of $56.37.

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

TXNM Energy Announces Dividend

The firm also recently declared 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. This represents a $1.63 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, October 24th. TXNM Energy’s dividend payout ratio is 95.32%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TXNM shares. Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and raised their target price for the company from $58.00 to $61.25 in a report on Monday, October 27th. Citigroup initiated coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of TXNM Energy in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $57.64.

TXNM Energy Company 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.