ProShare Advisors LLC Sells 116,508 Shares of TXNM Energy, Inc. $TXNM

ProShare Advisors LLC cut its position in TXNM Energy, Inc. (NYSE:TXNM) by 86.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,739 shares of the company’s stock after selling 116,508 shares during the quarter. ProShare Advisors LLC’s holdings in TXNM Energy were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Pentwater Capital Management LP acquired a new position in TXNM Energy during the 2nd quarter worth about $368,360,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in 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 acquiring an additional 1,227,627 shares during the period. Governors Lane LP grew its position in TXNM Energy by 142.8% in the 2nd quarter. Governors Lane LP now owns 1,079,170 shares of the company’s stock valued at $61,275,000 after acquiring an additional 634,756 shares in the last quarter. Gabelli Funds LLC grew its position in TXNM Energy by 2.1% in the 1st quarter. Gabelli Funds LLC now owns 893,714 shares of the company’s stock valued at $52,247,000 after acquiring an additional 18,550 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in TXNM Energy in the 2nd quarter valued at about $50,713,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TXNM shares. Weiss Ratings raised shares of TXNM Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

TXNM Energy Stock Performance

NYSE:TXNM opened at $58.23 on Friday. The company has a fifty day simple moving average of $58.35 and a two-hundred day simple moving average of $58.38. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17. The company has a quick ratio of 0.39, a current ratio of 0.81 and a debt-to-equity ratio of 1.53. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, October 30th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. The business had revenue of $733.29 million for the quarter, compared to analyst estimates of $749.61 million. TXNM Energy had a return on equity of 9.17% and a net margin of 9.88%. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 3.07 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 13th. Shareholders 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 80.86%.

TXNM Energy Company Profile

TXNM Energy Inc (NYSE:TXNM) is an energy holding company that provides electricity and related utility services through its regulated subsidiaries. Its principal businesses are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP), which operate electric generation, transmission and distribution systems.

PNM serves residential, commercial and industrial customers in New Mexico, while TNMP provides regulated electric distribution service to communities in Texas.