TXNM Energy, Inc. $TXNM Shares Sold by Mint Tower Capital Management B.V.

Mint Tower Capital Management B.V. lessened its stake in TXNM Energy, Inc. (NYSE:TXNM) by 41.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,000 shares of the company’s stock after selling 25,095 shares during the quarter. Mint Tower Capital Management B.V.’s holdings in TXNM Energy were worth $2,061,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TXNM. Balyasny Asset Management L.P. lifted its holdings in shares of TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after buying an additional 3,133,794 shares during the period. Norges Bank acquired a new stake in shares of TXNM Energy during the 4th quarter worth approximately $182,061,000. Vanguard Group Inc. grew its stake in shares of TXNM Energy by 16.0% during the 3rd quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock worth $654,223,000 after purchasing an additional 1,598,954 shares during the period. Citadel Advisors LLC grew its stake in shares of TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock worth $56,948,000 after purchasing an additional 1,002,011 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of 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 purchasing an additional 800,258 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TXNM shares. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Price Performance

NYSE:TXNM opened at $57.20 on Friday. TXNM Energy, Inc. has a 52 week low of $56.17 and a 52 week high of $59.53. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $6.33 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.48 and a beta of 0.16. The stock’s 50-day moving average price is $59.03 and its 200-day moving average price is $58.89.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 1st. The company reported $0.21 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 business had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same quarter last year, the business earned $0.19 earnings per share. TXNM Energy’s revenue was up 4.6% on a year-over-year basis. As a group, equities analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Increases Dividend

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