Polar Asset Management Partners Inc. Purchases New Position in TXNM Energy, Inc. $TXNM

Polar Asset Management Partners Inc. acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 212,868 shares of the company’s stock, valued at approximately $12,087,000. Polar Asset Management Partners Inc. owned approximately 0.21% of TXNM Energy at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TXNM. Public Employees Retirement System of Ohio increased its holdings in shares of TXNM Energy by 4.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,787 shares of the company’s stock worth $221,000 after purchasing an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of TXNM Energy by 17.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after purchasing an additional 184 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of TXNM Energy by 3.3% during the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock valued at $356,000 after buying an additional 199 shares during the last quarter. Bank of Montreal Can increased its holdings in TXNM Energy by 1.4% in the 4th quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock worth $931,000 after buying an additional 219 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in TXNM Energy by 3.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,368 shares of the company’s stock worth $372,000 after buying an additional 223 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Stock Performance

TXNM opened at $57.32 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.46 and a beta of 0.17. The company’s 50 day moving average is $57.35 and its 200 day moving average is $58.34. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53.

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

TXNM Energy Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s payout ratio is presently 93.37%.

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.