Creative Planning Decreases Holdings in TXNM Energy, Inc. $TXNM

Creative Planning lowered its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,127 shares of the company’s stock after selling 1,453 shares during the period. Creative Planning’s holdings in TXNM Energy were worth $1,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TXNM. SG Americas Securities LLC boosted its holdings in TXNM Energy by 245.5% in the 2nd quarter. SG Americas Securities LLC now owns 17,681 shares of the company’s stock worth $996,000 after buying an additional 12,564 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of TXNM Energy by 47.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 252,944 shares of the company’s stock valued at $14,246,000 after acquiring an additional 81,292 shares in the last quarter. Olympiad Research LP acquired a new stake in shares of TXNM Energy in the second quarter worth approximately $996,000. Geode Capital Management LLC increased 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 purchasing an additional 63,240 shares in the last quarter. Finally, BCK Capital Management LP acquired a new position in TXNM Energy in the 2nd quarter valued at $2,090,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the transaction, the director directly owned 8,725 shares in the company, valued at approximately $503,781.50. This represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.28% of the company’s stock.

TXNM Energy Trading Up 0.5%

Shares of TXNM stock opened at $58.45 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a twelve month low of $45.71 and a twelve month high of $58.45. The company’s 50-day moving average price is $57.18 and its 200-day moving average price is $56.75. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 2.69 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.11). The firm had revenue of $647.16 million for the quarter, compared to analyst estimates of $608.65 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.During the same quarter in the previous 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were issued a $0.4075 dividend. The ex-dividend date was Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a yield of 2.8%. TXNM Energy’s dividend payout ratio is currently 95.32%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TXNM. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and raised their price objective for the company from $58.00 to $61.25 in a report on Monday, October 27th. Weiss Ratings downgraded shares of TXNM Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Citigroup began coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, TXNM Energy presently has an average rating of “Hold” and a consensus target price 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.