IFM Investors Pty Ltd Reduces Stock Holdings in TXNM Energy, Inc. $TXNM

IFM Investors Pty Ltd reduced its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 46.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,364 shares of the company’s stock after selling 5,519 shares during the quarter. IFM Investors Pty Ltd’s holdings in TXNM Energy were worth $340,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TXNM. BNP Paribas Financial Markets purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $874,000. Baird Financial Group Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $236,000. Captrust Financial Advisors purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $307,000. Cetera Investment Advisers purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $236,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $1,891,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TXNM shares. Barclays reiterated an “overweight” rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Siebert Williams Shank downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Scotiabank lifted their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 20th. Finally, Mizuho downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.86.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $56.85 on Friday. TXNM Energy, Inc. has a twelve month low of $41.65 and a twelve month high of $57.42. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 2.69 and a beta of 0.09. The business has a 50 day simple moving average of $56.77 and a 200-day simple moving average of $54.91.

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). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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

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.