35,704 Shares in TXNM Energy, Inc. $TXNM Purchased by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 35,704 shares of the company’s stock, valued at approximately $2,027,000.

Other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in TXNM Energy in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of TXNM Energy by 17.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after purchasing an additional 184 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after purchasing an additional 236 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $74,000. Finally, Larson Financial Group LLC grew its position in shares of TXNM Energy by 81.8% in the third 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 in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TXNM. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.25.

TXNM Energy Price Performance

TXNM Energy stock opened at $58.08 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $57.43 and a 200 day moving average price of $58.28. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53. The stock has a market cap of $5.98 billion, a P/E ratio of 32.09, a PEG ratio of 2.53 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. Sell-side analysts anticipate that TXNM Energy, Inc. will post 3.03 earnings per share for the current year.

TXNM Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is presently 93.37%.

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.