Walleye Capital LLC Acquires Shares of 66,346 TXNM Energy, Inc. $TXNM

Key Points

• Walleye Capital LLC has acquired 66,346 shares of TXNM Energy, Inc., totaling around $3.5 million, increasing its ownership to approximately 0.07%.
• TXNM Energy reported earnings of $0.25 per share for the latest quarter, missing analysts' expectations by $0.21, despite revenue of $502.42 million surpassing estimates.
• The company's recent quarterly dividend was $0.4075, resulting in a 2.9% yield, with a significant payout ratio of 84.02%.

Walleye Capital LLC acquired a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 66,346 shares of the company's stock, valued at approximately $3,548,000. Walleye Capital LLC owned about 0.07% of TXNM Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of TXNM Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after acquiring an additional 361,945 shares during the last quarter. Zimmer Partners LP acquired a new stake in shares of TXNM Energy in the fourth quarter worth $165,816,000. Reaves W H & Co. Inc. acquired a new stake in shares of TXNM Energy in the first quarter worth $161,678,000. Westwood Holdings Group Inc. grew its stake in shares of TXNM Energy by 14.0% in the first quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock worth $98,323,000 after acquiring an additional 226,386 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of TXNM Energy in the fourth quarter worth $84,090,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Price Performance

TXNM Energy stock traded up $0.14 during mid-day trading on Monday, hitting $56.64. 643,600 shares of the company were exchanged, compared to its average volume of 1,111,901. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The business has a fifty day moving average of $56.69 and a 200 day moving average of $54.60. TXNM Energy, Inc. has a 1-year low of $40.47 and a 1-year high of $57.42. The company has a market capitalization of $5.97 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.68 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. The company's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a $0.4075 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.63 annualized dividend and a yield of 2.9%. TXNM Energy's payout ratio is presently 84.02%.

Wall Street Analysts Forecast Growth

TXNM has been the topic of several research analyst reports. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Scotiabank lifted their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 20th. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Finally, Barclays reiterated an "overweight" rating and set a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, TXNM Energy presently has a consensus rating of "Moderate Buy" and an average target price of $54.86.

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.