TXNM Energy, Inc. $TXNM Stake Raised by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd boosted its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 35.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 789,989 shares of the company’s stock after buying an additional 205,232 shares during the quarter. TXNM Energy accounts for 4.6% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 6th largest position. Melqart Asset Management UK Ltd’s holdings in TXNM Energy were worth $46,515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. grew its stake in shares of TXNM Energy by 3.3% in the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock worth $356,000 after acquiring an additional 199 shares in the last quarter. Bank of Montreal Can raised its stake in shares of TXNM Energy by 1.4% in the fourth quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock valued at $931,000 after acquiring an additional 219 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after acquiring an additional 236 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in TXNM Energy by 22.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock valued at $86,000 after purchasing an additional 268 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in TXNM Energy by 20.4% in the third quarter. EverSource Wealth Advisors LLC now owns 1,839 shares of the company’s stock valued at $104,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TXNM shares. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, TXNM Energy presently has an average rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Trading Down 0.3%

Shares of NYSE:TXNM opened at $56.88 on Wednesday. TXNM Energy, Inc. has a 52 week low of $56.17 and a 52 week high of $59.53. The company’s 50 day moving average is $58.92 and its two-hundred day moving average is $58.87. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The company has a market cap of $6.30 billion, a PE ratio of 40.92, a P/E/G ratio of 2.46 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The firm had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. TXNM Energy’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. Equities analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $1.145 dividend. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Tuesday, June 30th. TXNM Energy’s payout ratio is 121.58%.

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.