TXNM Energy, Inc. $TXNM Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 25.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 727,364 shares of the company’s stock after selling 242,492 shares during the quarter. First Trust Advisors LP’s holdings in TXNM Energy were worth $40,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Huntington National Bank lifted its position in TXNM Energy by 1,307.0% in the second quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after buying an additional 562 shares during the last quarter. Smartleaf Asset Management LLC purchased a new stake in shares of TXNM Energy in the 1st quarter valued at approximately $43,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of TXNM Energy in the 1st quarter worth approximately $54,000. Twin Tree Management LP purchased a new position in shares of TXNM Energy during the 1st quarter worth approximately $58,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in TXNM Energy in the 2nd quarter valued at approximately $67,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TXNM. Citigroup assumed coverage on TXNM Energy in a research note on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and increased their target price for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, TXNM Energy has a consensus rating of “Hold” and a consensus target price of $58.42.

TXNM Energy Stock Performance

Shares of TXNM opened at $58.26 on Wednesday. TXNM Energy, Inc. has a 1 year low of $45.71 and a 1 year high of $58.51. The stock has a market capitalization of $6.35 billion, a PE ratio of 34.07, a PEG ratio of 2.76 and a beta of 0.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. The stock has a 50-day simple moving average of $57.39 and a 200-day simple moving average of $56.93.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The firm had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. During the same period last year, the business earned $1.43 EPS. On average, analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be given a dividend of $0.4225 per share. This is an increase 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 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is presently 95.32%.

Insider Activity at TXNM Energy

In related news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction 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 transaction, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.

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.