DLD Asset Management LP decreased its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM – Free Report) by 59.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 34,405 shares of the company’s stock after selling 50,676 shares during the quarter. DLD Asset Management LP’s holdings in TXNM Energy were worth $2,011,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Empowered Funds LLC purchased a new position in shares of TXNM Energy in the first quarter worth about $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in TXNM Energy by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock worth $15,902,000 after acquiring an additional 32,776 shares during the last quarter. M&T Bank Corp boosted its position in TXNM Energy by 29.4% during the second quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock worth $353,000 after acquiring an additional 1,426 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in TXNM Energy by 215.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock valued at $86,000 after acquiring an additional 1,043 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in TXNM Energy by 323.5% during the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock valued at $7,130,000 after acquiring an additional 96,708 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.
TXNM Energy Stock Up 0.4%
NYSE TXNM opened at $58.33 on Thursday. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The business’s fifty day simple moving average is $57.91 and its 200-day simple moving average is $58.59. The firm has a market cap of $6.46 billion, a PE ratio of 41.96, a P/E/G ratio of 2.51 and a beta of 0.17.
TXNM Energy Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s payout ratio is 121.58%.
Analyst Ratings Changes
A number of research firms have commented on TXNM. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy currently has an average rating of “Hold” and a consensus price target of $61.25.
Get Our Latest Stock Report 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.
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