Burren Capital Advisors Ltd Takes $3.57 Million Position in TXNM Energy, Inc. $TXNM

Burren Capital Advisors Ltd purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 63,198 shares of the company’s stock, valued at approximately $3,574,000. TXNM Energy comprises approximately 10.1% of Burren Capital Advisors Ltd’s investment portfolio, making the stock its 4th largest holding. Burren Capital Advisors Ltd owned about 0.06% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cape Investment Advisory Inc. bought a new position in TXNM Energy during the 2nd quarter worth approximately $28,000. Huntington National Bank raised its position in shares of TXNM Energy by 1,307.0% during the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after acquiring an additional 562 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in 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 last quarter. Jones Financial Companies Lllp lifted its stake in 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 last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in TXNM Energy by 215.1% during the second 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 last quarter. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, TXNM Energy presently has a consensus rating of “Hold” and a consensus price target of $59.30.

TXNM Energy Stock Performance

Shares of TXNM opened at $59.05 on Friday. The firm has a fifty day moving average of $59.07 and a 200-day moving average of $57.89. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 34.53, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy, Inc. has a 1 year low of $47.21 and a 1 year high of $59.52.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.12). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The firm had revenue of $533.23 million during the quarter, compared to the consensus estimate of $593.29 million. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 27th will be issued a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy’s dividend payout ratio is 98.83%.

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.