Millennium Management LLC Lowers Holdings in TXNM Energy, Inc. $TXNM

Millennium Management LLC trimmed its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 72.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 427,833 shares of the company’s stock after selling 1,105,829 shares during the quarter. Millennium Management LLC owned 0.46% of TXNM Energy worth $22,881,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its holdings in TXNM Energy by 4.9% in the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company’s stock valued at $327,000 after purchasing an additional 285 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in TXNM Energy by 6.0% in the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company’s stock valued at $272,000 after purchasing an additional 287 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in TXNM Energy in the first quarter valued at $25,000. Cetera Investment Advisers boosted its holdings in TXNM Energy by 10.1% in the first quarter. Cetera Investment Advisers now owns 5,281 shares of the company’s stock valued at $282,000 after purchasing an additional 486 shares during the last quarter. Finally, Versant Capital Management Inc purchased a new stake in TXNM Energy in the first quarter valued at $35,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXNM has been the topic of several recent analyst reports. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Scotiabank increased their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 20th. Siebert Williams Shank lowered shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 23rd. Barclays reissued an “overweight” rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Finally, Mizuho lowered shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.86.

TXNM Energy Trading Down 0.2%

Shares of TXNM Energy stock opened at $56.85 on Friday. The firm has a market capitalization of $5.99 billion, a PE ratio of 29.30, a P/E/G ratio of 2.69 and a beta of 0.09. TXNM Energy, Inc. has a twelve month low of $41.65 and a twelve month high of $57.42. The firm’s 50-day moving average price is $56.77 and its 200 day moving average price is $54.89. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.21). The company had revenue of $502.42 million during the quarter, compared to analysts’ expectations of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm’s revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.63 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is currently 84.02%.

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.