Segall Bryant & Hamill LLC lessened its stake in TXNM Energy, Inc. (NYSE:TXNM – Free Report) by 5.0% in the first quarter, HoldingsChannel reports. The firm owned 413,199 shares of the company’s stock after selling 21,847 shares during the period. Segall Bryant & Hamill LLC’s holdings in TXNM Energy were worth $24,156,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in TXNM Energy by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock valued at $700,631,000 after buying an additional 330,382 shares during the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after buying an additional 3,133,794 shares during the last quarter. Norges Bank bought a new stake in shares of TXNM Energy in the fourth quarter worth $182,061,000. Geode Capital Management LLC grew its holdings in shares of TXNM Energy by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock worth $151,378,000 after acquiring an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in TXNM Energy by 53.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock valued at $113,704,000 after acquiring an additional 668,929 shares during the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
TXNM has been the topic of a number of recent research reports. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy currently has an average rating of “Hold” and an average target price of $61.25.
TXNM Energy Stock Down 0.1%
Shares of TXNM stock opened at $57.93 on Friday. TXNM Energy, Inc. has a 12 month low of $55.64 and a 12 month high of $59.53. The stock has a market cap of $6.41 billion, a P/E ratio of 41.68, a P/E/G ratio of 2.50 and a beta of 0.17. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The company has a 50 day simple moving average of $57.73 and a two-hundred day simple moving average of $58.55.
TXNM Energy (NYSE:TXNM – Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The business had revenue of $548.55 million for the quarter, compared to the consensus estimate of $567.00 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. On average, research analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.
TXNM Energy Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy’s dividend payout ratio (DPR) is currently 121.58%.
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. 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.
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