Kennedy Capital Management LLC Acquires 27,453 Shares of TXNM Energy, Inc. $TXNM

Kennedy Capital Management LLC boosted its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,115 shares of the company’s stock after acquiring an additional 27,453 shares during the quarter. Kennedy Capital Management LLC’s holdings in TXNM Energy were worth $19,261,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TXNM. Empowered Funds LLC bought a new stake in TXNM Energy during the 1st quarter worth approximately $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in TXNM Energy by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock worth $15,902,000 after acquiring an additional 32,776 shares during the last quarter. M&T Bank Corp lifted its position in shares of TXNM Energy by 29.4% in the 2nd quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock worth $353,000 after purchasing an additional 1,426 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of TXNM Energy by 215.1% in the 2nd 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 during the period. Finally, Marshall Wace LLP lifted its position in shares of TXNM Energy by 323.5% in the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock worth $7,130,000 after purchasing an additional 96,708 shares during the period. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TXNM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.25.

TXNM Energy Stock Down 0.1%

TXNM Energy stock opened at $57.08 on Friday. 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, Inc. has a 12-month low of $56.17 and a 12-month high of $59.53. The firm’s fifty day moving average is $59.00 and its 200 day moving average is $58.88. The company has a market capitalization of $6.32 billion, a PE ratio of 41.06, a PEG ratio of 2.46 and a beta of 0.16.

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 analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The company had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $1.145 dividend. This represents a $4.58 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s dividend payout ratio is presently 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.