50,000 Shares in TXNM Energy, Inc. $TXNM Bought by Mint Tower Capital Management B.V.

Key Points

• Mint Tower Capital Management acquired 50,000 TXNM Energy shares worth approximately $2.84 million in the second quarter. Institutional investors now own 91.68% of the company, with several other firms also initiating positions.
• TXNM Energy reported quarterly EPS of $0.58, beating analyst expectations of $0.56, though revenue of $548.55 million fell short of the $567 million estimate. Shares recently traded at $57.66, near the lower end of their 52-week range.
• The company’s annualized dividend is $1.69 per share, yielding 2.9%, but its 93.37% payout ratio remains high. Analysts maintain a consensus “Hold” rating with an average price target of $61.25.

Mint Tower Capital Management B.V. bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 50,000 shares of the company's stock, valued at approximately $2,839,000.

Several other institutional investors have also recently bought and sold shares of TXNM. Empowered Funds LLC acquired a new position in TXNM Energy during the 2nd quarter worth $244,000. United Capital Financial Advisors LLC acquired a new stake in shares of TXNM Energy in the second quarter valued at about $291,000. Glazer Capital LLC bought a new position in shares of TXNM Energy in the second quarter worth about $18,373,000. PSquared Asset Management AG bought a new position in shares of TXNM Energy in the second quarter worth about $15,349,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of TXNM Energy during the 2nd quarter worth about $222,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Trading Up 0.3%

Shares of TXNM Energy stock opened at $57.66 on Friday. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The firm has a market capitalization of $5.94 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 2.48 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The company's fifty day moving average price is $57.40 and its two-hundred day moving average price is $58.32.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. On average, analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy's payout ratio is presently 93.37%.

Analysts Set New Price Targets

Several analysts recently weighed in on TXNM shares. Wall Street Zen upgraded TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $61.25.

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.

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