AlphaQuest LLC Acquires New Shares in TXNM Energy, Inc. $TXNM

AlphaQuest LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 50,927 shares of the company’s stock, valued at approximately $2,880,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC bought a new stake 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 increased its stake in TXNM Energy by 12.4% during the 1st 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 purchasing an additional 32,776 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in TXNM Energy by 17.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,535 shares of the company’s stock worth $593,000 after buying an additional 1,600 shares during the period. Inspire Investing LLC lifted its stake in TXNM Energy by 5.0% in the second quarter. Inspire Investing LLC now owns 10,128 shares of the company’s stock valued at $570,000 after buying an additional 481 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in TXNM Energy by 13.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,920 shares of the company’s stock valued at $615,000 after buying an additional 1,312 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup initiated coverage on shares of TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price objective on the stock. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and lifted their price target for the company from $58.00 to $61.25 in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.42.

TXNM Energy Price Performance

NYSE:TXNM opened at $58.93 on Friday. The stock’s 50-day simple moving average is $58.80 and its 200 day simple moving average is $57.58. TXNM Energy, Inc. has a 52-week low of $47.21 and a 52-week high of $59.47. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. The company has a market cap of $6.42 billion, a P/E ratio of 34.46, a P/E/G ratio of 2.53 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.The company had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. During the same quarter in the prior year, the company earned $1.43 EPS. As a group, sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be given a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 2.9%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, January 30th. TXNM Energy’s payout ratio is currently 95.32%.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 1,800 shares of TXNM Energy stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the transaction, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.28% of the stock is currently owned by corporate insiders.

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.