ABC Arbitrage SA Sells 13,384 Shares of TXNM Energy, Inc. $TXNM

ABC Arbitrage SA cut its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,642 shares of the company’s stock after selling 13,384 shares during the quarter. ABC Arbitrage SA’s holdings in TXNM Energy were worth $4,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TXNM. Empowered Funds LLC bought a new position in shares of TXNM Energy during the 1st quarter worth $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of TXNM Energy by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock valued at $15,902,000 after buying an additional 32,776 shares during the period. M&T Bank Corp raised its holdings in shares of TXNM Energy by 29.4% in the second quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock valued at $353,000 after acquiring an additional 1,426 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of TXNM Energy by 215.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock valued at $86,000 after acquiring an additional 1,043 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in TXNM Energy by 323.5% in the second quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock worth $7,130,000 after acquiring an additional 96,708 shares during the period. Institutional investors own 91.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings reissued 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 MarketBeat.com, TXNM Energy presently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Trading Up 0.5%

NYSE:TXNM opened at $57.14 on Tuesday. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 2.45 and a beta of 0.17. TXNM Energy, Inc. has a 52 week low of $55.64 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 firm has a 50 day moving average of $58.13 and a 200 day moving average of $58.66.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. During the same period in the prior year, the firm posted $0.19 earnings per share. TXNM Energy’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s 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.