Legal & General Group Plc Makes New Investment in TXNM Energy, Inc. $TXNM

Legal & General Group Plc purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, Holdings Channel reports. The institutional investor purchased 427,046 shares of the company’s stock, valued at approximately $24,248,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in TXNM Energy in the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of TXNM Energy by 17.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after purchasing an additional 184 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after purchasing an additional 236 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of TXNM Energy during the fourth quarter worth about $74,000. Finally, Larson Financial Group LLC grew its holdings in shares of TXNM Energy by 81.8% during the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after purchasing an additional 623 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of TXNM opened at $57.66 on Friday. The business has a 50-day moving average of $57.40 and a 200-day moving average of $58.32. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 2.49 and a beta of 0.17. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $548.55 million for the quarter, compared to analysts’ expectations of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. As a group, equities research analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were paid a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s dividend payout ratio is currently 93.37%.

Analyst Upgrades and Downgrades

TXNM has been the subject of a number of research reports. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy 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.