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

Alberta Investment Management Corp boosted its position in TXNM Energy, Inc. (NYSE:TXNM) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 611,614 shares of the company’s stock after purchasing an additional 11,614 shares during the period. Alberta Investment Management Corp’s holdings in TXNM Energy were worth $36,012,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of TXNM Energy in the first quarter valued at approximately $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in TXNM Energy by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock worth $15,902,000 after acquiring an additional 32,776 shares during the period. M&T Bank Corp boosted its position in TXNM Energy by 29.4% in the second quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock worth $353,000 after purchasing an additional 1,426 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in TXNM Energy by 215.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in TXNM Energy by 323.5% in the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock valued at $7,130,000 after purchasing an additional 96,708 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Price Performance

TXNM opened at $56.99 on Friday. The firm has a 50-day moving average price of $58.83 and a 200-day moving average price of $58.85. TXNM Energy, Inc. has a twelve month low of $56.17 and a twelve month high of $59.53. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 41.00, a PEG ratio of 2.43 and a beta of 0.16.

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

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $1.145 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This is an increase 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%. TXNM Energy’s dividend payout ratio 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.