Fieldview Capital Management LLC Takes Position in TXNM Energy, Inc. $TXNM

Fieldview Capital Management LLC purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 9,105 shares of the company’s stock, valued at approximately $536,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock valued at $700,631,000 after acquiring an additional 330,382 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after acquiring an additional 3,133,794 shares during the last quarter. Norges Bank bought a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $182,061,000. Geode Capital Management LLC increased its holdings in shares of TXNM Energy by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock valued at $151,378,000 after acquiring an additional 161,141 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of TXNM Energy by 53.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock valued at $113,704,000 after acquiring an additional 668,929 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TXNM Energy Price Performance

Shares of TXNM opened at $57.01 on Tuesday. The company has a market cap of $6.31 billion, a P/E ratio of 41.01, a PEG ratio of 2.46 and a beta of 0.16. The stock has a fifty day moving average price of $58.96 and a 200 day moving average price of $58.88. 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 12 month low of $56.17 and a 12 month high of $59.53.

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

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.145 per share. This represents a $4.58 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Tuesday, June 30th. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s dividend payout ratio (DPR) is currently 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.