Alpine Associates Management Inc. Takes $10.97 Million Position in TXNM Energy, Inc. $TXNM

Alpine Associates Management Inc. bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 194,800 shares of the company’s stock, valued at approximately $10,971,000.

Several other institutional investors have also recently added to or reduced their stakes in TXNM. Parallel Advisors LLC lifted its position in TXNM Energy by 15.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,331 shares of the company’s stock worth $75,000 after buying an additional 183 shares in the last quarter. Securian Asset Management Inc. increased its stake in shares of TXNM Energy by 3.5% in the 2nd quarter. Securian Asset Management Inc. now owns 7,056 shares of the company’s stock valued at $397,000 after buying an additional 238 shares during the period. IFM Investors Pty Ltd raised its position in shares of TXNM Energy by 4.2% during the second quarter. IFM Investors Pty Ltd now owns 6,630 shares of the company’s stock worth $373,000 after acquiring an additional 266 shares during the last quarter. Federated Hermes Inc. boosted its holdings in TXNM Energy by 4.9% in the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company’s stock valued at $327,000 after acquiring an additional 285 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in TXNM Energy by 6.0% in the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company’s stock worth $272,000 after purchasing an additional 287 shares during the period. 91.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a research note on Tuesday, October 14th. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the company from $58.00 to $61.25 in a report on Monday, October 27th. Finally, Citigroup initiated coverage on TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price for the company. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.64.

TXNM Energy Price Performance

TXNM stock opened at $56.81 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The stock has a market cap of $5.99 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.69 and a beta of 0.06. The stock has a 50-day moving average price of $56.80 and a two-hundred day moving average price of $56.15. TXNM Energy, Inc. has a 1 year low of $42.09 and a 1 year high of $57.42.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. During the same period in the prior year, the firm posted $1.43 EPS. Equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a $0.4075 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.63 annualized dividend and a yield of 2.9%. TXNM Energy’s dividend payout ratio is currently 95.32%.

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.