Envestnet Asset Management Inc. Reduces Stock Position in TXNM Energy, Inc. $TXNM

Envestnet Asset Management Inc. decreased its position in TXNM Energy, Inc. (NYSE:TXNM) by 56.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,430 shares of the company’s stock after selling 61,068 shares during the quarter. Envestnet Asset Management Inc.’s holdings in TXNM Energy were worth $2,615,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TXNM. Smartleaf Asset Management LLC purchased a new position in TXNM Energy during the 1st quarter valued at about $43,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of TXNM Energy in the 1st quarter worth approximately $54,000. Twin Tree Management LP purchased a new position in shares of TXNM Energy during the first quarter valued at approximately $58,000. IFP Advisors Inc bought a new position in shares of TXNM Energy during the first quarter valued at approximately $68,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of TXNM Energy by 360.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,340 shares of the company’s stock valued at $75,000 after acquiring an additional 1,049 shares in the last quarter. 91.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TXNM shares. Citigroup began coverage on shares of TXNM Energy in a report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TXNM Energy in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and increased their price target for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $57.64.

TXNM Energy Price Performance

TXNM stock opened at $57.85 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. The firm has a 50 day moving average price of $56.93 and a 200-day moving average price of $56.44. TXNM Energy, Inc. has a 52-week low of $45.52 and a 52-week high of $57.90. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). The company had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. During the same period last year, the business earned $1.43 EPS. Equities research analysts forecast 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, November 14th. Stockholders of record on Friday, October 24th were given a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, October 24th. TXNM Energy’s payout ratio is currently 95.32%.

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.