Retirement Systems of Alabama Acquires 3,466 Shares of TXNM Energy, Inc. $TXNM

Retirement Systems of Alabama boosted its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 247,751 shares of the company’s stock after buying an additional 3,466 shares during the period. Retirement Systems of Alabama owned approximately 0.24% of TXNM Energy worth $13,953,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in TXNM Energy by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company’s stock worth $560,879,000 after buying an additional 361,945 shares during the period. Alliancebernstein L.P. increased its position in TXNM Energy by 41.4% in the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock worth $190,406,000 after buying an additional 1,043,259 shares during the period. Reaves W H & Co. Inc. bought a new position in TXNM Energy in the 1st quarter worth approximately $161,678,000. Westwood Holdings Group Inc. increased its position in TXNM Energy by 14.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company’s stock worth $98,323,000 after buying an additional 226,386 shares during the period. Finally, BROOKFIELD Corp ON bought a new position in TXNM Energy in the 1st quarter worth approximately $94,216,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Price Performance

Shares of TXNM stock opened at $56.81 on Friday. The stock’s fifty day simple moving average is $56.80 and its 200 day simple moving average is $56.12. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 2.69 and a beta of 0.06. TXNM Energy, Inc. has a one year low of $42.09 and a one year high of $57.42.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.11). The company had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. During the same period in the prior year, the firm earned $1.43 EPS. On average, analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.63 annualized dividend and a yield of 2.9%. TXNM Energy’s payout ratio is currently 84.02%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup assumed coverage on TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a report on Tuesday, October 14th. Finally, Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $57.64.

TXNM Energy Company 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.