R Squared Ltd increased its stake in TXNM Energy, Inc. (NYSE:TXNM – Free Report) by 460.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 76,056 shares of the company’s stock after acquiring an additional 62,485 shares during the period. TXNM Energy comprises 2.4% of R Squared Ltd’s investment portfolio, making the stock its 3rd biggest position. R Squared Ltd’s holdings in TXNM Energy were worth $4,446,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of TXNM. Angelo Gordon & CO. L.P. bought a new position in TXNM Energy in the 3rd quarter valued at $5,694,000. Alpine Global Management LLC bought a new stake in shares of TXNM Energy during the third quarter worth $1,414,000. Tudor Investment Corp ET AL raised its position in shares of TXNM Energy by 35.1% during the third quarter. Tudor Investment Corp ET AL now owns 270,120 shares of the company’s stock worth $15,275,000 after acquiring an additional 70,120 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of TXNM Energy by 105.0% during the fourth quarter. SG Americas Securities LLC now owns 24,279 shares of the company’s stock valued at $1,430,000 after acquiring an additional 12,434 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new position in shares of TXNM Energy during the third quarter valued at $3,300,000. Institutional investors and hedge funds own 91.68% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on TXNM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.25.
TXNM Energy Trading Up 0.5%
TXNM stock traded up $0.28 during midday trading on Tuesday, reaching $56.91. The company’s stock had a trading volume of 230,793 shares, compared to its average volume of 1,412,431. The business’s 50-day simple moving average is $58.36 and its 200-day simple moving average is $58.73. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53. The stock has a market cap of $6.30 billion, a PE ratio of 40.95, a price-to-earnings-growth ratio of 2.46 and a beta of 0.17.
TXNM Energy (NYSE:TXNM – Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). The business had revenue of $504.98 million for the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current year.
TXNM Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.145 per share. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.0%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, June 30th. TXNM Energy’s payout ratio is presently 121.58%.
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.
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