Readystate Asset Management LP Purchases Shares of 456,446 TXNM Energy, Inc. $TXNM

Readystate Asset Management LP acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 3rd quarter, Holdings Channel reports. The fund acquired 456,446 shares of the company’s stock, valued at approximately $25,812,000. TXNM Energy accounts for about 1.1% of Readystate Asset Management LP’s portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in TXNM. Norges Bank acquired a new position in TXNM Energy in the second quarter valued at $99,354,000. Vanguard Group Inc. grew its holdings in TXNM Energy by 16.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock valued at $654,223,000 after buying an additional 1,598,954 shares during the period. LMR Partners LLP acquired a new position in shares of TXNM Energy during the 2nd quarter valued at about $48,291,000. Adage Capital Partners GP L.L.C. lifted its holdings in shares of TXNM Energy by 83.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock worth $99,279,000 after acquiring an additional 800,258 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of TXNM Energy by 397.2% in the second quarter. Balyasny Asset Management L.P. now owns 908,507 shares of the company’s stock worth $51,167,000 after acquiring an additional 725,794 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Performance

NYSE:TXNM opened at $59.32 on Wednesday. The firm’s fifty day simple moving average is $59.01 and its 200 day simple moving average is $57.78. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. TXNM Energy, Inc. has a twelve month low of $47.21 and a twelve month high of $59.52. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 2.53 and a beta of 0.16.

TXNM Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were paid a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, January 30th. TXNM Energy’s payout ratio is 98.83%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and boosted their price target for the company from $58.00 to $61.25 in a research report on Monday, October 27th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, TXNM Energy has an average rating of “Hold” and an average target price of $59.30.

About TXNM Energy

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.