Legal & General Group Plc Sells 48,245 Shares of TXNM Energy, Inc. $TXNM

Legal & General Group Plc trimmed its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,847 shares of the company’s stock after selling 48,245 shares during the period. Legal & General Group Plc owned approximately 0.45% of TXNM Energy worth $28,724,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in TXNM Energy by 280.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after acquiring an additional 756 shares during the period. Jones Financial Companies Lllp boosted its holdings in 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 acquiring an additional 1,102 shares during the period. Larson Financial Group LLC boosted its holdings in TXNM Energy by 81.8% during the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after acquiring an additional 623 shares during the period. Farther Finance Advisors LLC boosted its holdings in TXNM Energy by 22.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock valued at $86,000 after acquiring an additional 268 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in TXNM Energy by 215.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock valued at $86,000 after acquiring an additional 1,043 shares during the period. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Stock Down 0.3%

Shares of TXNM opened at $59.25 on Friday. The company has a 50-day simple moving average of $59.00 and a 200-day simple moving average of $58.84. The firm has a market capitalization of $6.56 billion, a P/E ratio of 42.62, a P/E/G ratio of 2.55 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 52 week low of $56.17 and a 52 week high of $59.53.

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

TXNM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.145 dividend. This represents a $4.58 annualized dividend and a yield of 7.7%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, June 30th. TXNM Energy’s dividend payout ratio (DPR) is currently 121.58%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Monday, May 11th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy has an average rating of “Hold” and an average target price of $61.25.

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. 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.