TXNM Energy, Inc. $TXNM Stake Boosted by Governors Lane LP

Governors Lane LP boosted its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 30.4% in the 4th quarter, Holdings Channel reports. The fund owned 901,464 shares of the company’s stock after acquiring an additional 210,195 shares during the quarter. TXNM Energy accounts for 3.2% of Governors Lane LP’s holdings, making the stock its 5th largest holding. Governors Lane LP’s holdings in TXNM Energy were worth $53,078,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new position in shares of TXNM Energy during the 4th quarter worth $27,000. Smartleaf Asset Management LLC boosted its holdings in TXNM Energy by 280.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after purchasing an additional 756 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in TXNM Energy by 574.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after purchasing an additional 1,102 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $74,000. Finally, Larson Financial Group LLC increased its holdings in shares of TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after buying an additional 623 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TXNM. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy currently has an average rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Price Performance

Shares of TXNM opened at $56.49 on Thursday. The company has a market cap of $6.25 billion, a P/E ratio of 40.64, a PEG ratio of 2.45 and a beta of 0.16. TXNM Energy, Inc. has a fifty-two week low of $56.17 and a fifty-two week high of $59.53. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The firm’s 50 day moving average price is $58.88 and its 200 day moving average price is $58.86.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). The business had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. On average, research analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $1.145 per share. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend is Tuesday, June 30th. TXNM Energy’s dividend payout ratio is presently 121.58%.

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.