Quantbot Technologies LP Purchases New Shares in TXNM Energy, Inc. $TXNM

Quantbot Technologies LP acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 58,595 shares of the company’s stock, valued at approximately $3,327,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in TXNM Energy in the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of TXNM Energy by 17.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after buying an additional 184 shares in the last quarter. 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 shares of TXNM Energy in the fourth quarter worth approximately $74,000. Finally, Larson Financial Group LLC increased its stake in TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after purchasing an additional 623 shares during the period. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Trading Up 0.1%

TXNM stock opened at $57.27 on Monday. The business’s 50-day moving average is $57.34 and its 200 day moving average is $58.37. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.47 and a beta of 0.17. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The company had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. On average, sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a $0.4225 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.0%. TXNM Energy’s dividend payout ratio is presently 93.37%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TXNM shares. Weiss Ratings raised 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 report on Saturday, August 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.