Norges Bank Buys Shares of 3,092,063 TXNM Energy, Inc. $TXNM

Norges Bank bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,092,063 shares of the company’s stock, valued at approximately $182,061,000. Norges Bank owned about 2.84% of TXNM Energy as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TXNM. Smartleaf Asset Management LLC grew its holdings in TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after buying an additional 756 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of TXNM Energy by 574.0% during the third quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock worth $73,000 after purchasing an additional 1,102 shares during the last quarter. Larson Financial Group LLC boosted 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. Farther Finance Advisors LLC boosted its holdings in shares of TXNM Energy by 22.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after purchasing an additional 268 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of TXNM Energy by 215.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after purchasing an additional 1,043 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Trading Down 0.3%

Shares of TXNM opened at $59.08 on Thursday. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $6.54 billion, a P/E ratio of 42.50, a price-to-earnings-growth ratio of 2.55 and a beta of 0.16. The stock’s fifty day simple moving average is $59.06 and its 200 day simple moving average is $58.88. TXNM Energy, Inc. has a twelve month low of $56.17 and a twelve month high of $59.53.

TXNM Energy (NYSE:TXNM) last issued its 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 firm had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. On average, equities research analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.145 dividend. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.58 annualized dividend and a dividend yield of 7.8%. TXNM Energy’s dividend payout ratio is 121.58%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TXNM. Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.25.

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.