Goldman Sachs Group Inc. Has $113.70 Million Holdings in TXNM Energy, Inc. $TXNM

Goldman Sachs Group Inc. lifted its position in TXNM Energy, Inc. (NYSE:TXNM) by 53.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,931,107 shares of the company’s stock after acquiring an additional 668,929 shares during the period. Goldman Sachs Group Inc.’s holdings in TXNM Energy were worth $113,704,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of TXNM Energy by 55.4% in the 3rd quarter. Principal Financial Group Inc. now owns 330,336 shares of the company’s stock valued at $18,681,000 after acquiring an additional 117,765 shares during the period. Angelo Gordon & CO. L.P. bought a new stake in shares of TXNM Energy in the 3rd quarter valued at about $5,694,000. Intech Investment Management LLC lifted its stake in TXNM Energy by 56.7% in the 3rd quarter. Intech Investment Management LLC now owns 98,451 shares of the company’s stock valued at $5,567,000 after purchasing an additional 35,607 shares during the last quarter. Athos Capital Ltd acquired a new stake in TXNM Energy in the 3rd quarter valued at about $8,078,000. Finally, Gabelli Funds LLC grew its holdings in TXNM Energy by 18.3% during the third quarter. Gabelli Funds LLC now owns 855,464 shares of the company’s stock worth $48,376,000 after purchasing an additional 132,491 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXNM has been the topic of several research analyst reports. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.25.

TXNM Energy Stock Performance

NYSE TXNM opened at $58.09 on Tuesday. The stock has a market cap of $6.43 billion, a PE ratio of 41.79, a P/E/G ratio of 2.56 and a beta of 0.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The firm has a 50-day moving average of $59.09 and a 200-day moving average of $58.90. TXNM Energy, Inc. has a 52-week low of $56.17 and a 52-week high of $59.53.

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

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $1.145 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 annualized dividend and a dividend yield of 7.9%. TXNM Energy’s dividend payout ratio (DPR) is currently 121.58%.

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.