44,219 Shares in TXNM Energy, Inc. $TXNM Purchased by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 44,219 TXNM Energy shares worth approximately $2.5 million in the second quarter. Other institutional investors also increased or initiated positions, with institutions and hedge funds owning 91.68% of the stock.
• TXNM Energy reported quarterly earnings of $0.58 per share, beating estimates of $0.56, although revenue of $548.55 million fell short of the $567 million consensus forecast.
• The company paid a quarterly dividend of $0.4225 per share, equivalent to a 2.9% annualized yield, while analysts maintained a consensus “Hold” rating and a $61.25 price target.

Jupiter Topco LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 44,219 shares of the company's stock, valued at approximately $2,511,000.

A number of other large investors also recently added to or reduced their stakes in the business. Athos Capital Ltd acquired a new position in TXNM Energy in the second quarter valued at approximately $8,948,000. Credit Industriel ET Commercial boosted its stake in TXNM Energy by 19.3% in the fourth quarter. Credit Industriel ET Commercial now owns 125,274 shares of the company's stock valued at $7,376,000 after acquiring an additional 20,274 shares during the last quarter. Bank of America Corp DE grew its holdings in TXNM Energy by 9.9% during the 1st quarter. Bank of America Corp DE now owns 305,595 shares of the company's stock worth $17,865,000 after acquiring an additional 27,601 shares during the period. Deutsche Bank AG acquired a new stake in TXNM Energy during the 2nd quarter worth $6,367,000. Finally, Groupe la Francaise raised its position in shares of TXNM Energy by 161.2% during the 1st quarter. Groupe la Francaise now owns 311,832 shares of the company's stock valued at $18,230,000 after acquiring an additional 192,446 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $58.08 on Thursday. The stock has a market cap of $5.98 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The stock has a 50-day moving average of $57.43 and a 200-day moving average of $58.28. 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, Inc. has a one year low of $55.64 and a one year high of $59.53.

TXNM Energy (NYSE:TXNM - Get Free Report) last released 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. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. The business had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 3.03 earnings per share for the current year.

TXNM Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given 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 was Monday, August 3rd. TXNM Energy's dividend payout ratio (DPR) is currently 93.37%.

Wall Street Analyst Weigh In

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

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.

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