3,912 Shares in TXNM Energy, Inc. $TXNM Acquired by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,912 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Reaves W H & Co. Inc. acquired a new stake in TXNM Energy during the 1st quarter worth $161,678,000. BROOKFIELD Corp ON bought a new position in shares of TXNM Energy in the 1st quarter worth $94,216,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of TXNM Energy during the first quarter worth $67,052,000. Alliancebernstein L.P. grew its stake in shares of TXNM Energy by 41.4% during the first quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock worth $190,406,000 after purchasing an additional 1,043,259 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new stake in TXNM Energy in the first quarter valued at about $28,725,000. 91.68% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Vicky A. Bailey sold 1,800 shares of TXNM Energy stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the sale, the director owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.28% of the company’s stock.

TXNM Energy Stock Up 0.1%

TXNM Energy stock opened at $58.15 on Tuesday. The company has a 50 day moving average of $57.06 and a 200-day moving average of $56.65. 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, Inc. has a twelve month low of $45.71 and a twelve month high of $58.25. The stock has a market capitalization of $6.33 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13.

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

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, October 24th. TXNM Energy’s dividend payout ratio is currently 95.32%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup assumed coverage on TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price on the stock. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and increased their price target for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of TXNM Energy in a research note on Monday, November 17th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $57.64.

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.