First Trust Advisors LP Has $37.21 Million Stake in TXNM Energy, Inc. $TXNM

First Trust Advisors LP reduced its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 9.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 658,017 shares of the company’s stock after selling 69,347 shares during the quarter. First Trust Advisors LP owned about 0.60% of TXNM Energy worth $37,211,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC acquired a new position in TXNM Energy during the 1st quarter worth $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of TXNM Energy by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock valued at $15,902,000 after buying an additional 32,776 shares during the period. Savant Capital LLC increased its stake in shares of TXNM Energy by 25.7% in the 2nd quarter. Savant Capital LLC now owns 16,348 shares of the company’s stock valued at $921,000 after buying an additional 3,344 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TXNM Energy during the second quarter worth $276,000. Finally, Geode Capital Management LLC raised its position in shares of TXNM Energy by 2.9% during the second quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock worth $128,169,000 after acquiring an additional 63,240 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Performance

TXNM stock opened at $58.68 on Friday. TXNM Energy, Inc. has a 1-year low of $47.69 and a 1-year high of $59.52. The company has a current ratio of 0.55, a quick ratio of 0.38 and a debt-to-equity ratio of 1.48. The firm has a market cap of $6.39 billion, a PE ratio of 40.19, a P/E/G ratio of 2.51 and a beta of 0.17. The business’s 50-day moving average price is $59.06 and its two-hundred day moving average price is $58.02.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.12). The business had revenue of $533.23 million during the quarter, compared to the consensus estimate of $593.29 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.During the same quarter last year, the company earned $0.30 earnings per share. As a group, research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be paid a $0.4225 dividend. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is currently 115.75%.

Wall Street Analyst Weigh In

TXNM has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.88.

TXNM Energy 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. 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.