Journey Strategic Wealth LLC Buys New Holdings in TXNM Energy, Inc. $TXNM

Journey Strategic Wealth LLC purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,912 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds also recently made changes to their positions in TXNM. Vanguard Group Inc. increased its stake in TXNM Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company’s stock valued at $560,879,000 after acquiring an additional 361,945 shares during the period. Alliancebernstein L.P. boosted its holdings in TXNM Energy by 41.4% during the first quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock valued at $190,406,000 after purchasing an additional 1,043,259 shares in the last quarter. Reaves W H & Co. Inc. bought a new stake in shares of TXNM Energy in the 1st quarter valued at approximately $161,678,000. Geode Capital Management LLC raised its holdings in shares of TXNM Energy by 2.9% in 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 in the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in shares of TXNM Energy by 14.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company’s stock worth $98,323,000 after buying an additional 226,386 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Trading Up 0.1%

TXNM opened at $58.15 on Tuesday. TXNM Energy, Inc. has a 1-year low of $45.71 and a 1-year high of $58.25. The stock has a market capitalization of $6.33 billion, a PE ratio of 29.97, a PEG ratio of 2.69 and a beta of 0.13. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The firm has a 50-day moving average price of $57.06 and a two-hundred day moving average price of $56.65.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.11). The company had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. During the same period last year, the company earned $1.43 earnings per share. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

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

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 1,800 shares of TXNM Energy stock in a transaction on Friday, November 14th. The stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the sale, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This trade represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

TXNM has been the topic of a number of analyst reports. Citigroup began coverage on TXNM Energy in a research report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their target price for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of TXNM Energy in a research report on Monday, November 17th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.