ABC Arbitrage SA Purchases 27,997 Shares of TXNM Energy, Inc. $TXNM

ABC Arbitrage SA increased its position in TXNM Energy, Inc. (NYSE:TXNM) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,026 shares of the company’s stock after buying an additional 27,997 shares during the quarter. ABC Arbitrage SA’s holdings in TXNM Energy were worth $4,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in TXNM Energy by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock valued at $700,631,000 after purchasing an additional 330,382 shares during the period. Balyasny Asset Management L.P. lifted its holdings in TXNM Energy by 344.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after buying an additional 3,133,794 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in TXNM Energy by 83.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock worth $99,279,000 after buying an additional 800,258 shares during the period. Sona Asset Management US LLC grew its position in shares of TXNM Energy by 79.8% in the 3rd quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company’s stock valued at $94,090,000 after buying an additional 738,631 shares during the last quarter. Finally, UBS Group AG grew its position in shares of TXNM Energy by 54.2% in the 4th quarter. UBS Group AG now owns 1,244,976 shares of the company’s stock valued at $73,304,000 after buying an additional 437,727 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, TXNM Energy presently has a consensus rating of “Hold” and a consensus price target of $60.88.

TXNM Energy Trading Up 0.4%

TXNM opened at $59.23 on Tuesday. TXNM Energy, Inc. has a twelve month low of $51.97 and a twelve month high of $59.52. The company has a fifty day moving average of $58.83 and a 200-day moving average of $58.61. The stock has a market cap of $6.56 billion, a PE ratio of 42.61, a price-to-earnings-growth ratio of 2.54 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, sell-side analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be paid a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy’s payout ratio is currently 121.58%.

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.