Meeder Advisory Services Inc. Buys New Shares in TXNM Energy, Inc. $TXNM

Meeder Advisory Services Inc. purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 16,468 shares of the company’s stock, valued at approximately $935,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TXNM. Balyasny Asset Management L.P. grew its holdings 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 valued at $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank acquired a new stake in shares of TXNM Energy in the fourth quarter valued at about $182,061,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in TXNM Energy by 420.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock worth $88,839,000 after acquiring an additional 1,227,627 shares in the last quarter. Citadel Advisors LLC raised its holdings in TXNM Energy by 19,952.4% during the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock worth $56,948,000 after acquiring an additional 1,002,011 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its position in TXNM Energy by 83.1% during the second 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 purchasing an additional 800,258 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

TXNM has been the subject of a number of analyst reports. Weiss Ratings upgraded TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.25.

TXNM Energy Stock Performance

Shares of TXNM opened at $57.60 on Thursday. The firm has a 50-day moving average of $57.34 and a 200-day moving average of $58.39. TXNM Energy, Inc. has a one year low of $55.64 and a one year high of $59.53. The company has a market cap of $5.94 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.48 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. The company had revenue of $548.55 million for the quarter, compared to analysts’ expectations of $567.00 million. As a group, equities analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is 93.37%.

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.