Royal Bank of Canada Reduces Stock Holdings in TXNM Energy, Inc. $TXNM

Royal Bank of Canada trimmed its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 49.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,962 shares of the company’s stock after selling 10,594 shares during the period. Royal Bank of Canada’s holdings in TXNM Energy were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in shares of TXNM Energy during the 4th quarter valued at $27,000. Smartleaf Asset Management LLC grew its stake in shares of 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 period. Kestra Advisory Services LLC bought a new position in shares of TXNM Energy during the 4th quarter worth $74,000. Larson Financial Group LLC increased its holdings in TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after acquiring an additional 623 shares during the last quarter. Finally, 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 acquiring an additional 268 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Trading Up 0.1%

Shares of TXNM stock opened at $57.27 on Monday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The company has a market capitalization of $5.90 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.47 and a beta of 0.17. The business’s fifty day moving average is $57.34 and its 200 day moving average is $58.37.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $548.55 million during the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. On average, equities research analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, August 3rd. TXNM Energy’s dividend payout ratio (DPR) is 93.37%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TXNM. Weiss Ratings upgraded TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, TXNM Energy has a consensus rating of “Hold” and a consensus target price 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.