GSA Capital Partners LLP Takes $6.61 Million Position in TXNM Energy, Inc. $TXNM

GSA Capital Partners LLP purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 116,439 shares of the company’s stock, valued at approximately $6,611,000. TXNM Energy comprises 0.4% of GSA Capital Partners LLP’s holdings, making the stock its 6th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in TXNM. Balyasny Asset Management L.P. raised its stake in TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after acquiring an additional 3,133,794 shares during the period. Norges Bank bought a new position in TXNM Energy during the fourth quarter worth about $182,061,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in TXNM Energy by 420.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock worth $88,839,000 after purchasing an additional 1,227,627 shares during the period. Citadel Advisors LLC increased its stake in shares of TXNM Energy by 19,952.4% in the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock worth $56,948,000 after purchasing an additional 1,002,011 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of TXNM Energy by 83.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock worth $99,279,000 after purchasing an additional 800,258 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TXNM. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, TXNM Energy presently has a consensus rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Stock Performance

NYSE:TXNM opened at $57.37 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 2.48 and a beta of 0.17. The business’s fifty day moving average is $57.35 and its 200 day moving average is $58.43.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The business had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million. Research analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued 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 of this dividend was Monday, August 3rd. TXNM Energy’s dividend payout ratio is presently 93.37%.

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.