Hudson Bay Capital Management LP Sells 347,121 Shares of TXNM Energy, Inc. $TXNM

Hudson Bay Capital Management LP cut its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 47.7% in the second quarter, Holdings Channel reports. The firm owned 381,003 shares of the company’s stock after selling 347,121 shares during the quarter. Hudson Bay Capital Management LP’s holdings in TXNM Energy were worth $21,458,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TXNM. Alliancebernstein L.P. grew its position in shares of TXNM Energy by 41.4% during the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company’s stock worth $190,406,000 after buying an additional 1,043,259 shares during the period. Geode Capital Management LLC boosted its position in shares of TXNM Energy by 2.9% during the second quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock worth $128,169,000 after purchasing an additional 63,240 shares in the last quarter. Norges Bank acquired a new stake in TXNM Energy during the 2nd quarter worth $99,354,000. Adage Capital Partners GP L.L.C. lifted its holdings in TXNM Energy by 83.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock worth $99,279,000 after acquiring an additional 800,258 shares in the last quarter. Finally, BROOKFIELD Corp ON bought a new stake in shares of TXNM Energy in the first quarter worth about $94,216,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Insiders Place Their Bets

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the sale, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.28% of the company’s stock.

Wall Street Analyst Weigh In

TXNM has been the topic of several recent analyst reports. Citigroup initiated coverage on TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday. Finally, Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their target price for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.42.

TXNM Energy Stock Performance

Shares of TXNM opened at $58.79 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. TXNM Energy, Inc. has a 12 month low of $45.71 and a 12 month high of $58.85. The firm has a fifty day simple moving average of $57.49 and a 200 day simple moving average of $56.97. The stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.77 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, October 31st. The company reported $1.33 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 business had revenue of $647.16 million for the quarter, compared to analyst estimates of $608.65 million. During the same quarter in the prior year, the company earned $1.43 earnings per share. Research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a $0.4225 dividend. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 30th. TXNM Energy’s dividend payout ratio (DPR) is 95.32%.

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.