Alyeska Investment Group L.P. Purchases New Shares in TXNM Energy, Inc. $TXNM

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. acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 350,000 shares of the company's stock, valued at approximately $18,718,000. Alyeska Investment Group L.P. owned 0.38% of TXNM Energy at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. lifted its position in TXNM Energy by 22.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 962,500 shares of the company's stock valued at $51,474,000 after purchasing an additional 175,000 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its stake in shares of TXNM Energy by 55.3% in the first quarter. Federation des caisses Desjardins du Quebec now owns 44,780 shares of the company's stock worth $2,395,000 after buying an additional 15,942 shares during the period. PDT Partners LLC bought a new position in shares of TXNM Energy in the first quarter worth about $686,000. Nomura Holdings Inc. lifted its position in shares of TXNM Energy by 132.3% during the 1st quarter. Nomura Holdings Inc. now owns 27,750 shares of the company's stock valued at $1,484,000 after buying an additional 15,804 shares in the last quarter. Finally, Twin Tree Management LP bought a new position in shares of TXNM Energy during the 1st quarter valued at approximately $58,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Trading Up 0.0%

Shares of TXNM Energy stock traded up $0.01 during trading on Friday, hitting $56.83. The stock had a trading volume of 478,387 shares, compared to its average volume of 898,466. The stock has a market cap of $5.99 billion, a PE ratio of 26.21, a PEG ratio of 2.69 and a beta of 0.09. TXNM Energy, Inc. has a 12 month low of $40.47 and a 12 month high of $57.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The firm's fifty day simple moving average is $56.72 and its 200-day simple moving average is $54.77.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced 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). The firm had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.TXNM Energy'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 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

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

Analysts Set New Price Targets

TXNM has been the topic of a number of recent analyst reports. Barclays restated an "overweight" rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Scotiabank raised their price target on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.