TXNM Energy, Inc. $TXNM Shares Bought by Governors Lane LP

Governors Lane LP lifted its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 142.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,079,170 shares of the company’s stock after acquiring an additional 634,756 shares during the quarter. TXNM Energy makes up about 4.6% of Governors Lane LP’s portfolio, making the stock its 3rd biggest holding. Governors Lane LP’s holdings in TXNM Energy were worth $61,275,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Athos Capital Ltd bought a new position in shares of TXNM Energy in the second quarter valued at about $8,948,000. Bank of America Corp DE lifted its stake in shares of TXNM Energy by 9.9% during the 1st quarter. Bank of America Corp DE now owns 305,595 shares of the company’s stock worth $17,865,000 after buying an additional 27,601 shares during the last quarter. Groupe la Francaise boosted its holdings in shares of TXNM Energy by 161.2% during the 1st quarter. Groupe la Francaise now owns 311,832 shares of the company’s stock worth $18,230,000 after buying an additional 192,446 shares during the period. Deutsche Bank AG bought a new stake in shares of TXNM Energy during the 2nd quarter worth about $6,367,000. Finally, Pentwater Capital Management LP acquired a new position in TXNM Energy in the 2nd quarter valued at about $368,360,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Performance

Shares of NYSE:TXNM opened at $58.16 on Wednesday. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53. The company’s 50 day moving average price is $57.51 and its two-hundred day moving average price is $58.25. The firm has a market cap of $6.40 billion, a PE ratio of 32.13, a PEG ratio of 2.53 and a beta of 0.17. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.44.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results 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 business had revenue of $548.55 million during the quarter, compared to analysts’ expectations of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. Equities research analysts predict that TXNM Energy, Inc. will post 3.03 earnings per share for the current year.

TXNM Energy Cuts Dividend

The business also recently announced 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 2.9%. The ex-dividend date was Monday, August 3rd. TXNM Energy’s dividend payout ratio is presently 93.37%.

Wall Street Analysts Forecast Growth

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

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.