Alberta Investment Management Corp Buys 11,614 Shares of TXNM Energy, Inc. $TXNM

Alberta Investment Management Corp grew its stake in TXNM Energy, Inc. (NYSE:TXNM) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,614 shares of the company’s stock after acquiring an additional 11,614 shares during the period. Alberta Investment Management Corp’s holdings in TXNM Energy were worth $36,012,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC bought a new position in shares of TXNM Energy in the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC grew its holdings in shares of TXNM Energy by 280.0% in the 3rd 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 in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of TXNM Energy by 574.0% in the 3rd 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 in the last quarter. Kestra Advisory Services LLC bought a new position in shares of TXNM Energy in the 4th quarter valued at about $74,000. Finally, Larson Financial Group LLC grew its holdings in shares of TXNM Energy by 81.8% in the 3rd 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 in the last quarter. Institutional investors own 91.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TXNM. Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Trading Down 0.1%

Shares of NYSE:TXNM opened at $57.01 on Tuesday. TXNM Energy, Inc. has a 52-week low of $56.17 and a 52-week high of $59.53. The company has a market capitalization of $6.31 billion, a P/E ratio of 41.01, a price-to-earnings-growth ratio of 2.46 and a beta of 0.16. The company has a 50-day simple moving average of $58.96 and a 200 day simple moving average of $58.88. 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 (NYSE:TXNM) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. During the same quarter last year, the company posted $0.19 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date is Tuesday, June 30th. TXNM Energy’s dividend payout ratio is presently 121.58%.

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.