Strs Ohio Sells 9,100 Shares of TXNM Energy, Inc. $TXNM

Strs Ohio decreased its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 51.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,700 shares of the company’s stock after selling 9,100 shares during the quarter. Strs Ohio’s holdings in TXNM Energy were worth $509,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new position in shares of TXNM Energy during the fourth quarter valued at $27,000. Smartleaf Asset Management LLC boosted its stake in TXNM Energy by 23.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares in the last quarter. Kestra Advisory Services LLC bought a new position in TXNM Energy in the 4th quarter worth about $74,000. Larson Financial Group LLC grew its position in TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after purchasing an additional 623 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in TXNM Energy by 22.5% during the 4th 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 owned by institutional investors.

TXNM Energy Trading Up 0.5%

Shares of NYSE:TXNM opened at $56.80 on Friday. The company has a market cap of $6.29 billion, a P/E ratio of 40.86, a PEG ratio of 2.44 and a beta of 0.17. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The stock’s fifty day moving average price is $58.17 and its 200-day moving average price is $58.67.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, May 1st. The company reported $0.21 EPS 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 business had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. TXNM Energy’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share 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 dividend of $1.145 per share. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s payout ratio is 121.58%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXNM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, TXNM Energy presently has an average rating of “Hold” and an average price target of $61.25.

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.