TXNM Energy, Inc. $TXNM Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in TXNM Energy, Inc. (NYSE:TXNM) by 55.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,336 shares of the company’s stock after acquiring an additional 117,765 shares during the period. Principal Financial Group Inc. owned approximately 0.31% of TXNM Energy worth $18,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of TXNM Energy in the second quarter valued at about $99,354,000. LMR Partners LLP purchased a new stake in TXNM Energy in the second quarter valued at approximately $48,291,000. Adage Capital Partners GP L.L.C. boosted its position in TXNM Energy by 83.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock valued at $99,279,000 after buying an additional 800,258 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in TXNM Energy by 397.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 908,507 shares of the company’s stock worth $51,167,000 after buying an additional 725,794 shares during the period. Finally, Alberta Investment Management Corp acquired a new position in TXNM Energy in the 2nd quarter worth approximately $28,160,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $59.00 on Monday. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.52 and a beta of 0.16. TXNM Energy, Inc. has a 12 month low of $47.21 and a 12 month high of $59.47. The firm’s 50 day simple moving average is $58.87 and its 200-day simple moving average is $57.66. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.51 and a quick ratio of 0.36.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a dividend of $0.4225 per share. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, January 30th. TXNM Energy’s dividend payout ratio (DPR) is 98.83%.

Insiders Place Their Bets

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the transaction, the director owned 8,725 shares in the company, valued at approximately $503,781.50. This represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on TXNM shares. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Jefferies Financial Group cut shares of TXNM Energy from a “buy” rating to a “hold” rating and raised their target price for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.42.

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.