First Trust Advisors LP Trims Stock Position in TXNM Energy, Inc. $TXNM

First Trust Advisors LP lessened its stake in TXNM Energy, Inc. (NYSE:TXNM) by 25.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 727,364 shares of the company’s stock after selling 242,492 shares during the quarter. First Trust Advisors LP owned 0.69% of TXNM Energy worth $40,965,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. purchased a new position in shares of TXNM Energy in the 1st quarter valued at about $67,052,000. Credit Industriel ET Commercial acquired a new stake in TXNM Energy in the second quarter valued at approximately $676,000. Intech Investment Management LLC raised its stake in shares of TXNM Energy by 16.0% during the 1st quarter. Intech Investment Management LLC now owns 50,390 shares of the company’s stock worth $2,695,000 after buying an additional 6,943 shares during the period. Inspire Investing LLC acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $516,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of TXNM Energy during the 1st quarter valued at approximately $390,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TXNM. 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 for the company. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their price target for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.42.

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $58.26 on Wednesday. The business’s 50 day moving average price is $57.39 and its 200 day moving average price is $56.93. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 34.07, a PEG ratio of 2.76 and a beta of 0.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy, Inc. has a one year low of $45.71 and a one year high of $58.51.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.The company had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. During the same period last year, the business earned $1.43 earnings per share. On average, research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, January 30th. TXNM Energy’s payout ratio is presently 95.32%.

Insiders Place Their Bets

In other news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the sale, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. This represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.36% of the stock is owned by insiders.

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.