TXNM Energy, Inc. $TXNM Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 60.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,682 shares of the company’s stock after buying an additional 17,941 shares during the period. New York State Common Retirement Fund’s holdings in TXNM Energy were worth $2,696,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TXNM. TD Waterhouse Canada Inc. increased its holdings in shares of TXNM Energy by 5.9% in the third quarter. TD Waterhouse Canada Inc. now owns 60,997 shares of the company’s stock valued at $3,465,000 after purchasing an additional 3,395 shares during the period. Truist Financial Corp purchased a new position in TXNM Energy in the 3rd quarter valued at $4,378,000. Resona Asset Management Co. Ltd. increased its stake in TXNM Energy by 2.5% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 16,007 shares of the company’s stock valued at $905,000 after buying an additional 393 shares during the period. Amalgamated Bank raised its position in TXNM Energy by 2.5% during the 3rd quarter. Amalgamated Bank now owns 41,662 shares of the company’s stock worth $2,356,000 after buying an additional 1,007 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of TXNM Energy in the 3rd quarter worth $422,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TXNM Energy

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the sale, the director directly owned 8,725 shares in the company, valued at approximately $503,781.50. The trade was a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.28% of the company’s stock.

TXNM Energy Price Performance

TXNM Energy stock opened at $59.00 on Friday. The firm has a fifty day moving average of $58.87 and a 200-day moving average of $57.66. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. TXNM Energy, Inc. has a 52-week low of $47.21 and a 52-week high of $59.47. The firm has a market capitalization of $6.43 billion, a P/E ratio of 34.50, a PEG ratio of 2.52 and a beta of 0.16.

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be issued a $0.4225 dividend. 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. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is 98.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TXNM. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and lifted their price target for the company from $58.00 to $61.25 in a research note on Monday, October 27th. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.42.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.