Picton Mahoney Asset Management Takes $5.66 Million Position in TXNM Energy, Inc. $TXNM

Picton Mahoney Asset Management purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the company’s stock, valued at approximately $5,655,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new position in TXNM Energy in the 2nd quarter valued at $28,000. Huntington National Bank boosted its holdings in shares of TXNM Energy by 1,307.0% in the second quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after acquiring an additional 562 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of TXNM Energy by 280.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after acquiring an additional 756 shares during the period. Jones Financial Companies Lllp raised its holdings in TXNM Energy by 574.0% during the third quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock worth $73,000 after purchasing an additional 1,102 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in TXNM Energy by 215.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after purchasing an additional 1,043 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on TXNM. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $59.30.

TXNM Energy Trading Up 0.0%

Shares of TXNM opened at $58.94 on Thursday. TXNM Energy, Inc. has a twelve month low of $47.21 and a twelve month high of $59.52. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $6.42 billion, a P/E ratio of 40.37, a PEG ratio of 2.52 and a beta of 0.17. The firm’s 50-day moving average is $59.08 and its two-hundred day moving average is $57.94.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.12). The firm had revenue of $533.23 million for the quarter, compared to analysts’ expectations of $593.29 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.During the same period last year, the firm earned $0.30 EPS. On average, research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be given a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, April 27th. TXNM Energy’s payout ratio is presently 115.75%.

TXNM Energy 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.