Gabelli Funds LLC Has $52.25 Million Stake in TXNM Energy, Inc. $TXNM

Gabelli Funds LLC raised its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 893,714 shares of the company’s stock after acquiring an additional 18,550 shares during the period. Gabelli Funds LLC owned approximately 0.81% of TXNM Energy worth $52,247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in TXNM Energy in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its position in shares of TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after acquiring an additional 236 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of TXNM Energy in the fourth quarter worth $74,000. Larson Financial Group LLC grew its stake in shares of TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after acquiring an additional 623 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in TXNM Energy by 22.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after acquiring an additional 268 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TXNM has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, TXNM Energy has a consensus rating of “Hold” and an average price target of $61.25.

TXNM Energy Stock Performance

TXNM opened at $58.34 on Friday. The stock’s 50 day simple moving average is $57.87 and its 200-day simple moving average is $58.59. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The stock has a market cap of $6.46 billion, a PE ratio of 41.97, a P/E/G ratio of 2.51 and a beta of 0.17. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53.

TXNM Energy (NYSE:TXNM) last issued its 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). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. During the same period last year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.

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.