Readystate Asset Management LP Invests $25.81 Million in TXNM Energy, Inc. $TXNM

Readystate Asset Management LP purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 456,446 shares of the company’s stock, valued at approximately $25,812,000. TXNM Energy accounts for approximately 1.1% of Readystate Asset Management LP’s investment portfolio, making the stock its 20th biggest position. Readystate Asset Management LP owned 0.42% of TXNM Energy as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new stake in shares of TXNM Energy in the 2nd quarter worth $28,000. Huntington National Bank boosted its holdings in TXNM Energy by 1,307.0% in the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after purchasing an additional 562 shares in the last quarter. Smartleaf Asset Management LLC increased its position in TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after purchasing an additional 756 shares during the period. MorganRosel Wealth Management LLC acquired a new position in TXNM Energy during the 2nd quarter worth approximately $67,000. Finally, Jones Financial Companies Lllp raised its stake in shares of TXNM Energy by 574.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock worth $73,000 after buying an additional 1,102 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on TXNM. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Finally, Jefferies Financial Group cut shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their price target for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.30.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $59.32 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $59.01 and its 200 day moving average price is $57.78. TXNM Energy, Inc. has a 52 week low of $47.21 and a 52 week high of $59.52. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 34.69, a PEG ratio of 2.53 and a beta of 0.16.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Friday, January 30th were issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, January 30th. TXNM Energy’s payout ratio is presently 98.83%.

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.