Alpine Associates Management Inc. Makes New Investment in TXNM Energy, Inc. $TXNM

Alpine Associates Management Inc. purchased a new position in TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 194,800 shares of the company’s stock, valued at approximately $10,971,000. Alpine Associates Management Inc. owned approximately 0.18% of TXNM Energy as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of TXNM Energy by 15.9% during the second quarter. Parallel Advisors LLC now owns 1,331 shares of the company’s stock worth $75,000 after purchasing an additional 183 shares during the last quarter. Securian Asset Management Inc. boosted its position in shares of TXNM Energy by 3.5% during the second quarter. Securian Asset Management Inc. now owns 7,056 shares of the company’s stock worth $397,000 after buying an additional 238 shares during the period. IFM Investors Pty Ltd grew its stake in shares of TXNM Energy by 4.2% in the second quarter. IFM Investors Pty Ltd now owns 6,630 shares of the company’s stock worth $373,000 after purchasing an additional 266 shares in the last quarter. Federated Hermes Inc. grew its position in TXNM Energy by 4.9% in the 1st quarter. Federated Hermes Inc. now owns 6,115 shares of the company’s stock valued at $327,000 after buying an additional 285 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of TXNM Energy by 6.0% during the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company’s stock valued at $272,000 after acquiring an additional 287 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TXNM shares. Citigroup began coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a report on Tuesday, October 14th. Finally, Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and lifted their price target for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.64.

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $56.81 on Monday. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 29.28, a P/E/G ratio of 2.69 and a beta of 0.06. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a 1 year low of $42.09 and a 1 year high of $57.42. The business has a fifty day simple moving average of $56.80 and a 200 day simple moving average of $56.15.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). The firm had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.During the same quarter in the prior year, the company posted $1.43 EPS. As a group, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is currently 95.32%.

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.