Victory Capital Management Inc. Cuts Holdings in TXNM Energy, Inc. $TXNM

Victory Capital Management Inc. reduced its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 61.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 221,164 shares of the company’s stock after selling 352,368 shares during the period. Victory Capital Management Inc.’s holdings in TXNM Energy were worth $12,507,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of TXNM. Empowered Funds LLC acquired a new position in TXNM Energy in the 1st quarter worth about $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in TXNM Energy by 12.4% in 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 valued at $15,902,000 after purchasing an additional 32,776 shares during the period. Savant Capital LLC increased its position in shares of TXNM Energy by 25.7% in the second quarter. Savant Capital LLC now owns 16,348 shares of the company’s stock valued at $921,000 after buying an additional 3,344 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of TXNM Energy during the 2nd quarter worth approximately $276,000. Finally, Geode Capital Management LLC raised its stake in shares of TXNM Energy by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock worth $128,169,000 after buying an additional 63,240 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Price Performance

NYSE:TXNM opened at $58.56 on Thursday. The stock has a 50 day moving average of $59.07 and a two-hundred day moving average of $58.01. TXNM Energy, Inc. has a 12 month low of $47.69 and a 12 month high of $59.52. The firm has a market cap of $6.38 billion, a P/E ratio of 40.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.17. The company has a current ratio of 0.55, a quick ratio of 0.38 and a debt-to-equity ratio of 1.48.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.12). The firm had revenue of $533.23 million during the quarter, compared to analysts’ expectations of $593.29 million. TXNM Energy had a net margin of 7.27% and a return on equity of 7.54%. During the same quarter last year, the business earned $0.30 EPS. On average, analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is presently 115.75%.

Analyst Ratings Changes

A number of research firms recently issued reports on TXNM. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.88.

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.