Melqart Asset Management UK Ltd Invests $33.07 Million in TXNM Energy, Inc. $TXNM

Melqart Asset Management UK Ltd acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) in the 3rd quarter, HoldingsChannel reports. The fund acquired 584,757 shares of the company’s stock, valued at approximately $33,068,000. TXNM Energy comprises about 4.4% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 5th largest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. boosted its position in TXNM Energy by 3.3% during the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock worth $356,000 after purchasing an additional 199 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of TXNM Energy by 1.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 19,139 shares of the company’s stock valued at $1,082,000 after purchasing an additional 200 shares during the period. CWM LLC lifted its stake in shares of TXNM Energy by 8.9% during the 3rd quarter. CWM LLC now owns 2,738 shares of the company’s stock valued at $155,000 after buying an additional 224 shares in the last quarter. Inspire Investing LLC lifted its stake in shares of TXNM Energy by 2.4% during the 3rd quarter. Inspire Investing LLC now owns 10,376 shares of the company’s stock valued at $587,000 after buying an additional 248 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC boosted its holdings in TXNM Energy by 2.2% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 12,560 shares of the company’s stock worth $710,000 after buying an additional 266 shares during the period. 91.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TXNM. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $60.88.

TXNM Energy Stock Up 0.2%

TXNM stock opened at $58.85 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.55 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $6.41 billion, a PE ratio of 40.31, a PEG ratio of 2.51 and a beta of 0.17. TXNM Energy, Inc. has a twelve month low of $47.69 and a twelve month high of $59.52. The stock has a 50-day simple moving average of $59.06 and a two-hundred day simple moving average of $58.03.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.12). TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.The firm had revenue of $533.23 million during the quarter, compared to analysts’ expectations of $593.29 million. During the same period in the previous year, the company posted $0.30 earnings per share. On average, equities analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be paid a $0.4225 dividend. The ex-dividend date is Monday, April 27th. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s dividend payout ratio is currently 115.75%.

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.