Geode Capital Management LLC Increases Holdings in TXNM Energy, Inc. $TXNM

Geode Capital Management LLC lifted its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 2.9% in the second quarter, Holdings Channel reports. The fund owned 2,275,324 shares of the company’s stock after purchasing an additional 63,240 shares during the quarter. Geode Capital Management LLC’s holdings in TXNM Energy were worth $128,169,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TXNM. Charles Schwab Investment Management Inc. bought a new position in shares of TXNM Energy during the 1st quarter valued at approximately $67,052,000. Allianz Asset Management GmbH purchased a new position in TXNM Energy during the first quarter worth $4,843,000. Credit Industriel ET Commercial bought a new position in TXNM Energy during the second quarter valued at $676,000. Intech Investment Management LLC raised its stake in shares of TXNM Energy by 16.0% in the first quarter. Intech Investment Management LLC now owns 50,390 shares of the company’s stock valued at $2,695,000 after acquiring an additional 6,943 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of TXNM Energy in the 1st quarter worth about $516,000. 91.68% of the stock is owned by institutional investors.

Insider Transactions at TXNM Energy

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the transaction, the director directly owned 8,725 shares in the company, valued at $503,781.50. This represents a 17.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is currently owned by insiders.

TXNM Energy Stock Up 0.0%

Shares of NYSE:TXNM opened at $57.77 on Thursday. The business’s 50 day moving average is $56.99 and its 200 day moving average is $56.52. The stock has a market cap of $6.29 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. TXNM Energy, Inc. has a 52-week low of $45.71 and a 52-week high of $57.95. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The firm had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. During the same quarter in the prior year, the company posted $1.43 earnings per share. Sell-side analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a yield of 2.8%. TXNM Energy’s dividend payout ratio is 95.32%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TXNM. Weiss Ratings restated a “buy (b-)” rating on shares of TXNM Energy in a research report on Monday. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Finally, Citigroup started coverage on TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price for the company. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, TXNM Energy currently has an average rating of “Hold” and an average target price of $57.64.

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.