Louisiana State Employees Retirement System Purchases Shares of 28,400 TXNM Energy, Inc. $TXNM

Louisiana State Employees Retirement System purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the first quarter, HoldingsChannel.com reports. The firm purchased 28,400 shares of the company’s stock, valued at approximately $1,660,000.

Several other hedge funds have also recently made changes to their positions in TXNM. Los Angeles Capital Management LLC bought a new stake in shares of TXNM Energy during the 4th quarter valued at about $27,000. Kestra Advisory Services LLC bought a new stake in TXNM Energy in the fourth quarter worth approximately $74,000. Smartleaf Asset Management LLC lifted its stake in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after buying an additional 236 shares during the period. Larson Financial Group LLC boosted its holdings in shares of TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after buying an additional 623 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of TXNM Energy by 22.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after buying an additional 268 shares in the last quarter. 91.68% of the stock is owned by institutional investors.

TXNM Energy Stock Performance

NYSE TXNM opened at $56.73 on Thursday. The company has a market cap of $6.28 billion, a P/E ratio of 40.82, a PEG ratio of 2.45 and a beta of 0.16. The company has a fifty day simple moving average of $58.49 and a 200 day simple moving average of $58.77. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a 12-month low of $56.17 and a 12-month high of $59.53.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same quarter in the previous year, the company posted $0.19 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.145 dividend. This represents a $4.58 annualized dividend and a dividend yield of 8.1%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, June 30th. TXNM Energy’s dividend payout ratio (DPR) is currently 121.58%.

Analyst Ratings Changes

Several analysts have recently weighed in on TXNM shares. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.