Royal Bank of Canada lowered its stake in shares of TXNM Energy, Inc. (NYSE:TXNM – Free Report) by 49.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,962 shares of the company’s stock after selling 10,594 shares during the period. Royal Bank of Canada’s holdings in TXNM Energy were worth $640,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Balyasny Asset Management L.P. grew its position in TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank purchased a new position in shares of TXNM Energy in the 4th quarter worth about $182,061,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of TXNM Energy by 420.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock valued at $88,839,000 after purchasing an additional 1,227,627 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after buying an additional 1,002,011 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in shares of TXNM Energy by 83.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock valued at $99,279,000 after buying an additional 800,258 shares in the last quarter. 91.68% of the stock is owned by institutional investors.
TXNM Energy Stock Up 0.1%
Shares of NYSE:TXNM opened at $57.27 on Monday. The stock’s 50-day moving average price is $57.34 and its 200-day moving average price is $58.37. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53. The stock has a market capitalization of $5.90 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 2.47 and a beta of 0.17. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44.
TXNM Energy Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is 93.37%.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on TXNM. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.25.
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.
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