TXNM Energy, Inc. $TXNM Stock: R Squared Ltd Cuts Holdings

R Squared Ltd lowered its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 37.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,551 shares of the company’s stock after selling 25,614 shares during the quarter. TXNM Energy accounts for 1.3% of R Squared Ltd’s investment portfolio, making the stock its 6th largest holding. R Squared Ltd’s holdings in TXNM Energy were worth $2,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Pentwater Capital Management LP purchased a new position in TXNM Energy in the second quarter worth $368,360,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of TXNM Energy by 420.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock valued at $88,839,000 after purchasing an additional 1,227,627 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of TXNM Energy during the 2nd quarter valued at $50,713,000. Alberta Investment Management Corp bought a new stake in shares of TXNM Energy during the 2nd quarter worth $44,935,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of TXNM Energy during the 2nd quarter worth $42,214,000. Institutional investors own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

TXNM has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of TXNM Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, TXNM Energy has an average rating of “Buy”.

TXNM Energy Stock Down 0.0%

TXNM opened at $58.81 on Friday. TXNM Energy, Inc. has a 12 month low of $55.64 and a 12 month high of $59.53. The company has a market cap of $6.48 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 2.54 and a beta of 0.17. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $58.41 and a 200 day moving average of $58.37.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, October 30th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.53 by $0.09. The company had revenue of $733.29 million during the quarter, compared to analysts’ expectations of $749.61 million. TXNM Energy had a net margin of 9.88% and a return on equity of 9.17%. On average, sell-side analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a dividend of $0.4225 per share. The ex-dividend date is Friday, October 23rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s dividend payout ratio is currently 80.86%.

TXNM Energy Company Profile

TXNM Energy, formerly known as PNM Resources, is an energy holding company based in Albuquerque, New Mexico. Its principal businesses are regulated electric utilities that generate, transmit and distribute electricity. Through Public Service Company of New Mexico, known as PNM, the company serves residential, commercial and industrial customers across much of New Mexico, including the Albuquerque and Santa Fe areas. PNM operates a mix of electricity generation and delivery assets. TXNM Energy also owns Texas-New Mexico Power Company, or TNMP, which operates electric transmission and distribution infrastructure in parts of Texas.