Louisiana State Employees Retirement System Acquires New Holdings in TXNM Energy, Inc. $TXNM

Louisiana State Employees Retirement System bought a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,400 shares of the company’s stock, valued at approximately $1,660,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXNM. Federated Hermes Inc. lifted its stake in shares of TXNM Energy by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock valued at $356,000 after acquiring an additional 199 shares during the last quarter. Bank of Montreal Can grew its position in TXNM Energy by 1.4% during the 4th quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock worth $931,000 after acquiring an additional 219 shares during the last quarter. Smartleaf Asset Management LLC grew its position in TXNM Energy by 23.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after acquiring an additional 236 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in TXNM Energy by 22.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after purchasing an additional 268 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in TXNM Energy by 20.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,839 shares of the company’s stock worth $104,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TXNM. Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.25.

TXNM Energy Stock Performance

NYSE TXNM opened at $56.73 on Thursday. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 2.45 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a twelve month low of $56.17 and a twelve month high of $59.53. The stock has a fifty day simple moving average of $58.49 and a 200 day simple moving average of $58.77.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The company had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that TXNM Energy, Inc. will post 3.07 EPS 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 $1.145 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TXNM Energy’s payout ratio is presently 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.