Balyasny Asset Management L.P. Purchases New Holdings in TXNM Energy, Inc. (NYSE:TXNM)

Balyasny Asset Management L.P. bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 483,390 shares of the company's stock, valued at approximately $23,768,000. Balyasny Asset Management L.P. owned about 0.54% of TXNM Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. acquired a new stake in TXNM Energy during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd acquired a new stake in TXNM Energy during the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at $48,000. NewEdge Advisors LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at $53,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at $83,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Ratings Changes

TXNM has been the subject of a number of research reports. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Scotiabank lifted their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Barclays lifted their price objective on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Finally, Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective for the company in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Stock Up 1.4%

NYSE TXNM traded up $0.72 during trading on Monday, reaching $53.61. 962,337 shares of the company's stock were exchanged, compared to its average volume of 851,515. The stock has a market cap of $4.97 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The company has a 50 day moving average price of $52.38 and a two-hundred day moving average price of $49.64. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $56.04.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The business had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is 72.44%.

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.