Strs Ohio Decreases Holdings in TXNM Energy, Inc. $TXNM

Strs Ohio cut its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 51.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,700 shares of the company’s stock after selling 9,100 shares during the period. Strs Ohio’s holdings in TXNM Energy were worth $509,000 as of its most recent SEC filing.

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

TXNM Energy Trading Up 0.5%

Shares of TXNM stock opened at $56.80 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. The company has a market cap of $6.29 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 2.44 and a beta of 0.17. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The firm has a fifty day moving average price of $58.17 and a 200-day moving average price of $58.67.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The company had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.TXNM Energy’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, equities analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TXNM shares. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy presently 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.