NINE MASTS CAPITAL Ltd bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM – Free Report) in the second quarter, HoldingsChannel.com reports. The firm bought 138,521 shares of the company’s stock, valued at approximately $7,865,000. TXNM Energy comprises about 0.8% of NINE MASTS CAPITAL Ltd’s portfolio, making the stock its 19th largest position.
Other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its position in shares of TXNM Energy by 17.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after purchasing an additional 184 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of TXNM Energy by 23.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in TXNM Energy during the 4th quarter valued at approximately $74,000. Finally, Larson Financial Group LLC boosted its stake in TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after purchasing an additional 623 shares during the period. 91.68% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have issued reports on TXNM shares. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.25.
TXNM Energy Stock Performance
Shares of NYSE TXNM opened at $57.52 on Tuesday. The firm has a market capitalization of $5.93 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.48 and a beta of 0.17. TXNM Energy, Inc. has a one year low of $55.64 and a one year high of $59.53. The business has a fifty day simple moving average of $57.34 and a 200 day simple moving average of $58.41. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44.
TXNM Energy (NYSE:TXNM – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $548.55 million during the quarter, compared to analysts’ expectations of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. Sell-side analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current year.
TXNM Energy Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $0.4225 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is presently 93.37%.
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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