Balyasny Asset Management L.P. Has $201.10 Million Stock Holdings in TXNM Energy, Inc. $TXNM

Balyasny Asset Management L.P. cut its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,415,364 shares of the company’s stock after selling 626,937 shares during the period. Balyasny Asset Management L.P.’s holdings in TXNM Energy were worth $201,097,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of TXNM. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth $27,000. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 756 shares during the period. Jones Financial Companies Lllp raised its position in shares of 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 during the period. Kestra Advisory Services LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth $74,000. Finally, Larson Financial Group LLC raised its position in shares of TXNM Energy by 81.8% during the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after purchasing an additional 623 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $56.49 on Thursday. TXNM Energy, Inc. has a 1-year low of $56.17 and a 1-year high of $59.53. 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 capitalization of $6.25 billion, a price-to-earnings ratio of 40.64, a P/E/G ratio of 2.45 and a beta of 0.16. The stock’s fifty day simple moving average is $58.88 and its 200-day simple moving average is $58.86.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results 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). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $506.24 million. During the same quarter in the prior year, the firm posted $0.19 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, sell-side 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. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date is Tuesday, June 30th. TXNM Energy’s dividend payout ratio is presently 121.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TXNM. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 11th. Weiss Ratings reaffirmed 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 a consensus rating of “Hold” and an average price target of $61.25.

TXNM Energy Company 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.