Connor Clark & Lunn Investment Management Ltd. Takes Position in TXNM Energy, Inc. $TXNM

Connor Clark & Lunn Investment Management Ltd. acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,900 shares of the company’s stock, valued at approximately $276,000.

Other hedge funds have also added to or reduced their stakes in the company. Huntington National Bank lifted its position in TXNM Energy by 1,307.0% during the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after buying an additional 562 shares in the last quarter. Smartleaf Asset Management LLC acquired a new stake in shares of TXNM Energy in the first quarter valued at about $43,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of TXNM Energy in the first quarter valued at about $54,000. Twin Tree Management LP bought a new stake in TXNM Energy during the first quarter worth about $58,000. Finally, MorganRosel Wealth Management LLC acquired a new position in TXNM Energy during the second quarter valued at approximately $67,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Up 0.0%

Shares of TXNM opened at $57.79 on Friday. The firm has a market cap of $6.29 billion, a P/E ratio of 29.79, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy, Inc. has a 52 week low of $45.71 and a 52 week high of $57.95. The firm’s 50-day simple moving average is $57.01 and its 200 day simple moving average is $56.52.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $647.16 million for the quarter, compared to analyst estimates of $608.65 million. During the same quarter last year, the business earned $1.43 earnings per share. On average, analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were paid a $0.4075 dividend. The ex-dividend date was Friday, October 24th. This represents a $1.63 annualized dividend and a yield of 2.8%. TXNM Energy’s payout ratio is 95.32%.

Insider Buying and Selling

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the transaction, the director owned 8,725 shares in the company, valued at $503,781.50. This trade represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TXNM has been the topic of a number of analyst reports. Jefferies Financial Group cut TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Citigroup started coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of TXNM Energy in a research note on Monday. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, TXNM Energy has a consensus rating of “Hold” and an average target price of $57.64.

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.