SG Americas Securities LLC Grows Stock Holdings in TXNM Energy, Inc. $TXNM

SG Americas Securities LLC boosted its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 69.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,162 shares of the company’s stock after buying an additional 16,883 shares during the quarter. SG Americas Securities LLC’s holdings in TXNM Energy were worth $2,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its holdings in TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in TXNM Energy during the fourth quarter worth $74,000. Larson Financial Group LLC boosted its position in TXNM Energy by 81.8% during the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after purchasing an additional 623 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in TXNM Energy by 22.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock valued at $86,000 after purchasing an additional 268 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TXNM has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Price Performance

TXNM stock opened at $56.73 on Thursday. The stock’s 50 day moving average price is $58.49 and its 200 day moving average price is $58.77. The firm has a market cap of $6.28 billion, a P/E ratio of 40.82, a PEG ratio of 2.45 and a beta of 0.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. TXNM Energy, Inc. has a 1 year low of $56.17 and a 1 year high of $59.53.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The company had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $506.24 million. During the same period in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.145 per share. The ex-dividend date is Tuesday, June 30th. This represents a $4.58 dividend on an annualized basis and a yield of 8.1%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s dividend payout ratio (DPR) is 121.58%.

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.