Meeder Advisory Services Inc. Purchases Shares of 16,468 TXNM Energy, Inc. $TXNM

Meeder Advisory Services Inc. acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,468 shares of the company’s stock, valued at approximately $935,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TXNM. Los Angeles Capital Management LLC bought a new position in shares of TXNM Energy in the fourth quarter valued at about $27,000. Kestra Advisory Services LLC bought a new stake in shares of TXNM Energy during the 4th quarter worth about $74,000. EverSource Wealth Advisors LLC boosted its holdings in shares of TXNM Energy by 17.1% during 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 during the period. Smartleaf Asset Management LLC grew its stake 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 during the last quarter. Finally, Larson Financial Group LLC grew its stake in TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after buying an additional 623 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Trading Up 0.2%

Shares of TXNM Energy stock opened at $57.60 on Thursday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. The firm has a 50-day moving average of $57.34 and a 200-day moving average of $58.39. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The stock has a market cap of $5.94 billion, a PE ratio of 31.83, a PEG ratio of 2.48 and a beta of 0.17.

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

TXNM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 3rd. TXNM Energy’s dividend payout ratio is presently 93.37%.

Analyst Ratings Changes

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

About TXNM Energy

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.