Legal & General Group Plc Purchases Shares of 427,046 TXNM Energy, Inc. $TXNM

Legal & General Group Plc acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 427,046 shares of the company’s stock, valued at approximately $24,248,000. Legal & General Group Plc owned about 0.41% of TXNM Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TXNM. Los Angeles Capital Management LLC bought a new position in shares of TXNM Energy during the fourth quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in TXNM Energy by 17.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after purchasing an additional 184 shares during the period. Smartleaf Asset Management LLC grew its holdings in TXNM Energy by 23.0% in the 4th 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 in the last quarter. Kestra Advisory Services LLC acquired a new position in TXNM Energy in the 4th quarter valued at $74,000. Finally, Larson Financial Group LLC increased its position in 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 during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Performance

Shares of NYSE:TXNM opened at $57.66 on Friday. The company’s 50 day simple moving average is $57.40 and its 200 day simple moving average is $58.32. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 2.49 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, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm had revenue of $548.55 million during the quarter, compared to analysts’ expectations of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. As a group, research analysts predict 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. Investors of record on Monday, August 3rd were given a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, August 3rd. TXNM Energy’s dividend payout ratio is currently 93.37%.

Wall Street Analysts Forecast Growth

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

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. 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.