PSquared Asset Management AG Acquires New Shares in TXNM Energy, Inc. $TXNM

PSquared Asset Management AG bought a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 274,400 shares of the company’s stock, valued at approximately $15,349,000. TXNM Energy accounts for about 5.0% of PSquared Asset Management AG’s holdings, making the stock its 9th biggest position. PSquared Asset Management AG owned 0.27% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Pentwater Capital Management LP acquired a new stake in shares of TXNM Energy in the 2nd quarter valued at approximately $368,360,000. Balyasny Asset Management L.P. increased its stake in TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after purchasing an additional 3,133,794 shares in the last quarter. Norges Bank acquired a new stake in TXNM Energy in the fourth quarter worth $182,061,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of 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 in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of TXNM Energy by 19,952.4% in the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after buying an additional 1,002,011 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

TXNM opened at $57.55 on Friday. The business’s 50-day moving average price is $57.39 and its two-hundred day moving average price is $58.32. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 31.79, a P/E/G ratio of 2.48 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $548.55 million during the quarter, compared to analysts’ expectations of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. Equities analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio is 93.37%.

Wall Street Analyst Weigh In

TXNM has been the topic of several research analyst reports. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.25.

About TXNM Energy

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.