UBS Group AG Purchases 437,727 Shares of TXNM Energy, Inc. $TXNM

UBS Group AG increased its position in TXNM Energy, Inc. (NYSE:TXNM) by 54.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,244,976 shares of the company’s stock after acquiring an additional 437,727 shares during the quarter. UBS Group AG’s holdings in TXNM Energy were worth $73,304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in TXNM Energy by 55.4% during the third quarter. Principal Financial Group Inc. now owns 330,336 shares of the company’s stock valued at $18,681,000 after purchasing an additional 117,765 shares in the last quarter. AlphaQuest LLC purchased a new position in TXNM Energy during the third quarter valued at $2,880,000. Angelo Gordon & CO. L.P. purchased a new position in TXNM Energy during the third quarter valued at $5,694,000. Athos Capital Ltd purchased a new position in TXNM Energy during the third quarter valued at $8,078,000. Finally, Gabelli Funds LLC lifted its position in TXNM Energy by 18.3% during the third quarter. Gabelli Funds LLC now owns 855,464 shares of the company’s stock valued at $48,376,000 after purchasing an additional 132,491 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $59.21 on Monday. The stock’s 50-day simple moving average is $58.83 and its 200-day simple moving average is $58.53. TXNM Energy, Inc. has a 52 week low of $51.59 and a 52 week high of $59.52. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 42.60, a PEG ratio of 2.53 and a beta of 0.16. The company has a quick ratio of 0.38, a current ratio of 0.55 and a debt-to-equity ratio of 1.48.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.25%. The business had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. TXNM Energy’s revenue was up 4.6% on a year-over-year basis. As a group, analysts expect that TXNM Energy, Inc. will post 3.09 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research report on Sunday. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and a consensus target price of $60.88.

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.