Envestnet Asset Management Inc. Decreases Stock Position in TXNM Energy, Inc. $TXNM

Envestnet Asset Management Inc. cut its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 56.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 46,430 shares of the company’s stock after selling 61,068 shares during the period. Envestnet Asset Management Inc.’s holdings in TXNM Energy were worth $2,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Reaves W H & Co. Inc. purchased a new position in shares of TXNM Energy in the first quarter worth $161,678,000. BROOKFIELD Corp ON bought a new stake in TXNM Energy in the 1st quarter worth about $94,216,000. Charles Schwab Investment Management Inc. purchased a new position in TXNM Energy in the 1st quarter worth about $67,052,000. Alliancebernstein L.P. raised its position in TXNM Energy by 41.4% in the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock worth $190,406,000 after buying an additional 1,043,259 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in TXNM Energy during the 1st quarter valued at about $28,725,000. Institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TXNM shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of TXNM Energy in a research note on Tuesday, November 11th. Citigroup began coverage on shares of TXNM Energy in a report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 target price on the stock. Finally, Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and boosted their target price for the company from $58.00 to $61.25 in a research note on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, TXNM Energy has an average rating of “Hold” and an average price target of $57.64.

TXNM Energy Trading Up 0.6%

Shares of TXNM stock opened at $57.85 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The company has a market cap of $6.30 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.69 and a beta of 0.13. TXNM Energy, Inc. has a 1 year low of $45.52 and a 1 year high of $57.90. The firm has a fifty day moving average price of $56.93 and a 200-day moving average price of $56.44.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $608.65 million. During the same period in the prior year, the business posted $1.43 earnings per share. As a group, equities analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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

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.