Capricorn Fund Managers Ltd Raises Position in TXNM Energy, Inc. $TXNM

Capricorn Fund Managers Ltd boosted its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 70.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,009 shares of the company’s stock after purchasing an additional 62,480 shares during the period. TXNM Energy makes up 1.4% of Capricorn Fund Managers Ltd’s portfolio, making the stock its 23rd largest position. Capricorn Fund Managers Ltd owned 0.14% of TXNM Energy worth $8,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock valued at $700,631,000 after acquiring an additional 330,382 shares during the last quarter. Balyasny Asset Management L.P. grew its position in TXNM Energy by 344.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after acquiring an additional 3,133,794 shares during the last quarter. Norges Bank bought a new position in TXNM Energy during the 4th quarter worth approximately $182,061,000. Geode Capital Management LLC increased its stake in TXNM Energy by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock worth $151,378,000 after purchasing an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in TXNM Energy by 53.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock worth $113,704,000 after purchasing an additional 668,929 shares during the period. 91.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TXNM. Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $61.25.

TXNM Energy Stock Down 0.2%

Shares of NYSE:TXNM opened at $56.81 on Wednesday. TXNM Energy, Inc. has a 1 year low of $56.17 and a 1 year high of $59.53. The company has a market cap of $6.29 billion, a PE ratio of 40.87, a P/E/G ratio of 2.45 and a beta of 0.16. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. The stock’s 50-day moving average is $58.53 and its 200 day moving average is $58.79.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share 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 business had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. During the same quarter last year, the business posted $0.19 EPS. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. This is a boost 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 currently 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.