DLD Asset Management LP Buys New Holdings in TXNM Energy, Inc. $TXNM

DLD Asset Management LP purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 70,595 shares of the company’s stock, valued at approximately $3,976,000. DLD Asset Management LP owned 0.07% of TXNM Energy as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of TXNM Energy by 3.6% during 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 in the last quarter. Alliancebernstein L.P. grew its position in TXNM Energy by 41.4% in the 1st 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 during the period. Reaves W H & Co. Inc. bought a new stake in TXNM Energy during the 1st quarter valued at $161,678,000. Geode Capital Management LLC raised its holdings in TXNM Energy by 2.9% during the second 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 during the last quarter. Finally, Westwood Holdings Group Inc. lifted its stake in shares of TXNM Energy by 14.0% in the first quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company’s stock valued at $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.

Insider Buying and Selling at TXNM Energy

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TXNM shares. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and boosted their target price for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Citigroup started coverage on TXNM Energy in a research note on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target for the company. Finally, Weiss Ratings downgraded TXNM Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, TXNM Energy currently has an average rating of “Hold” and an average target price of $58.42.

TXNM Energy Stock Performance

NYSE TXNM opened at $58.21 on Thursday. The company has a market capitalization of $6.34 billion, a PE ratio of 30.01, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy, Inc. has a 52-week low of $45.71 and a 52-week high of $58.25. The company has a 50-day simple moving average of $57.12 and a 200 day simple moving average of $56.70.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the business earned $1.43 earnings per share. On average, research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

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

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.