Pentwater Capital Management LP Takes Position in TXNM Energy, Inc. $TXNM

Pentwater Capital Management LP acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, HoldingsChannel reports. The firm acquired 6,487,500 shares of the company’s stock, valued at approximately $368,360,000. TXNM Energy makes up about 2.3% of Pentwater Capital Management LP’s portfolio, making the stock its 9th largest holding. Pentwater Capital Management LP owned about 0.06% of TXNM Energy at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in TXNM Energy during the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its holdings in shares of TXNM Energy by 17.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after purchasing an additional 184 shares during the period. Smartleaf Asset Management LLC increased its position in TXNM Energy by 23.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in TXNM Energy during the 4th quarter worth approximately $74,000. Finally, Larson Financial Group LLC raised its holdings in TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after buying an additional 623 shares during the period. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TXNM shares. Weiss Ratings upgraded shares of TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Price Performance

TXNM opened at $57.52 on Thursday. TXNM Energy, Inc. has a twelve month low of $55.64 and a twelve month high of $59.53. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 31.78, a PEG ratio of 2.47 and a beta of 0.17. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. The company has a fifty day simple moving average of $57.38 and a 200 day simple moving average of $58.33.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. Equities research analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.4225 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s payout ratio is presently 93.37%.

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.