TXNM Energy, Inc. $TXNM Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in TXNM Energy by 22.2% in the first quarter, owning approximately 1.04% of the company valued at $51.5 million.
• TXNM Energy's stock has seen a mixed outlook from analysts, with Barclays maintaining an "overweight" rating and raising the target price to $61.00, while others have downgraded their ratings.
• The company recently declared a quarterly dividend of $0.4075 per share, yielding approximately 2.9% annually, with a payout ratio of 84.02%.

Adage Capital Partners GP L.L.C. lifted its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 22.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 962,500 shares of the company's stock after purchasing an additional 175,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 1.04% of TXNM Energy worth $51,474,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings 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 valued at $560,879,000 after purchasing an additional 361,945 shares in the last quarter. Zimmer Partners LP bought a new stake in TXNM Energy in the fourth quarter worth $165,816,000. Reaves W H & Co. Inc. bought a new stake in TXNM Energy in the first quarter worth $161,678,000. Westwood Holdings Group Inc. lifted its position in 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 buying an additional 226,386 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in TXNM Energy in the fourth quarter worth $84,090,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.0%

Shares of TXNM stock traded up $0.01 during trading hours on Friday, reaching $56.83. 478,387 shares of the company's stock were exchanged, compared to its average volume of 940,555. TXNM Energy, Inc. has a 1 year low of $40.47 and a 1 year high of $57.42. The stock has a market cap of $5.99 billion, a PE ratio of 29.29, a PEG ratio of 2.69 and a beta of 0.09. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The stock's fifty day moving average price is $56.72 and its two-hundred day moving average price is $54.75.

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

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.4075 per share. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy's payout ratio is 84.02%.

Analyst Upgrades and Downgrades

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

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.