Weiss Asset Management LP Buys New Position in TXNM Energy, Inc. $TXNM

Weiss Asset Management LP bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 165,405 shares of the company’s stock, valued at approximately $9,670,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock worth $700,631,000 after acquiring an additional 330,382 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of TXNM Energy by 344.9% during the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after acquiring an additional 3,133,794 shares during the period. Norges Bank bought a new stake in TXNM Energy during the fourth quarter worth approximately $182,061,000. Geode Capital Management LLC raised its holdings in TXNM Energy by 6.7% during the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock worth $151,378,000 after purchasing an additional 161,141 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in TXNM Energy by 53.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock worth $113,704,000 after purchasing an additional 668,929 shares during the period. 91.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TXNM has been the subject of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.25.

TXNM Energy Stock Performance

NYSE:TXNM opened at $58.34 on Friday. The company has a 50-day moving average of $57.87 and a 200-day moving average of $58.59. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.17. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a twelve month low of $55.64 and a twelve month high of $59.53.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a $0.4225 dividend. The ex-dividend date is Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s payout ratio is 121.58%.

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. 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.