56,029 Shares in TXNM Energy, Inc. $TXNM Purchased by ABC Arbitrage SA

ABC Arbitrage SA bought a new position in TXNM Energy, Inc. (NYSE:TXNM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 56,029 shares of the company’s stock, valued at approximately $3,168,000. ABC Arbitrage SA owned approximately 0.05% of TXNM Energy as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cape Investment Advisory Inc. purchased a new position in shares of TXNM Energy in the second quarter valued at $28,000. Huntington National Bank boosted its stake in TXNM Energy by 1,307.0% in the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after purchasing an additional 562 shares during the period. Smartleaf Asset Management LLC grew its holdings in TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after buying an additional 756 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in TXNM Energy during the 2nd quarter valued at about $67,000. Finally, Jones Financial Companies Lllp increased its position in shares of TXNM Energy by 574.0% during the third quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after buying an additional 1,102 shares during the period. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the sale, the director directly 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Jefferies Financial Group cut 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 report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.30.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $59.15 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.51 and a quick ratio of 0.36. TXNM Energy, Inc. has a one year low of $47.21 and a one year high of $59.47. The business’s 50 day simple moving average is $58.90 and its two-hundred day simple moving average is $57.69. The stock has a market capitalization of $6.44 billion, a P/E ratio of 34.59, a price-to-earnings-growth 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. Shareholders of record on Friday, January 30th will be issued a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, January 30th. TXNM Energy’s dividend payout ratio is currently 98.83%.

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. 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.