Governors Lane LP increased its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM – Free Report) by 30.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 901,464 shares of the company’s stock after purchasing an additional 210,195 shares during the period. TXNM Energy makes up 3.2% of Governors Lane LP’s holdings, making the stock its 5th biggest position. Governors Lane LP owned approximately 0.83% of TXNM Energy worth $53,078,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TXNM. Evolve Private Wealth LLC acquired a new stake in TXNM Energy during the 4th quarter worth about $231,000. Freestone Grove Partners LP lifted its holdings in shares of TXNM Energy by 103.4% in the 4th quarter. Freestone Grove Partners LP now owns 149,869 shares of the company’s stock valued at $8,824,000 after buying an additional 76,205 shares during the period. AQR Arbitrage LLC boosted its stake in shares of TXNM Energy by 12.7% in the fourth quarter. AQR Arbitrage LLC now owns 1,180,015 shares of the company’s stock worth $69,479,000 after buying an additional 132,908 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in TXNM Energy by 40.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 277,963 shares of the company’s stock worth $16,366,000 after acquiring an additional 80,200 shares during the period. Finally, Polar Asset Management Partners Inc. raised its position in TXNM Energy by 283.9% during the fourth quarter. Polar Asset Management Partners Inc. now owns 134,355 shares of the company’s stock valued at $7,911,000 after acquiring an additional 99,355 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.
TXNM Energy Stock Down 0.7%
TXNM opened at $56.49 on Thursday. The company has a market cap of $6.25 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.45 and a beta of 0.16. TXNM Energy, Inc. has a twelve month low of $56.17 and a twelve month high of $59.53. The company has a 50-day moving average price of $58.88 and a 200 day moving average price of $58.86. 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 Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.145 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 annualized dividend and a dividend yield of 8.1%. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.
Analyst Ratings Changes
Several research firms have commented on TXNM. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.25.
Get Our Latest Stock Analysis on TXNM
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.
Featured Stories
- Five stocks we like better than TXNM Energy
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Receive News & Ratings for TXNM Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TXNM Energy and related companies with MarketBeat.com's FREE daily email newsletter.
