350,000 Shares in TXNM Energy, Inc. $TXNM Acquired by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. invested approximately $18.72 million in TXNM Energy, purchasing 350,000 shares, giving them about 0.38% ownership in the company.
• TXNM Energy reported $502.42 million in revenue for the last quarter, exceeding analysts' expectations, but missed earnings per share estimates with $0.25 EPS against a consensus of $0.46.
• The company also declared a quarterly dividend of $0.4075 per share, reflecting an annualized dividend yield of 2.9%.

Alyeska Investment Group L.P. purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 350,000 shares of the company's stock, valued at approximately $18,718,000. Alyeska Investment Group L.P. owned about 0.38% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in TXNM Energy in the first quarter worth approximately $25,000. Versant Capital Management Inc purchased a new position in TXNM Energy in the first quarter worth approximately $35,000. LRI Investments LLC purchased a new position in TXNM Energy in the fourth quarter worth approximately $40,000. Fifth Third Bancorp purchased a new position in TXNM Energy in the first quarter worth approximately $40,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in TXNM Energy in the first quarter worth approximately $41,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TXNM shares. Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $61.00 price target (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. 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. Finally, Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.86.

TXNM Energy Stock Up 0.2%

NYSE:TXNM traded up $0.10 during trading hours on Wednesday, hitting $56.94. The stock had a trading volume of 97,259 shares, compared to its average volume of 1,237,203. The business has a 50 day simple moving average of $56.73 and a two-hundred day simple moving average of $54.81. 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 company has a market cap of $6.00 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.68 and a beta of 0.09. TXNM Energy, Inc. has a 1-year low of $40.47 and a 1-year high of $57.42.

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

TXNM Energy Dividend Announcement

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

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.