Arrowstreet Capital Limited Partnership Acquires New Shares in TXNM Energy, Inc. $TXNM

Key Points

• Arrowstreet Capital initiated a position in TXNM Energy by purchasing 249,098 shares worth approximately $14.6 million, while institutional investors collectively own 91.68% of the company.
• TXNM Energy reported quarterly EPS of $0.21, missing the $0.30 analyst consensus, although revenue rose 4.6% year over year to $504.98 million.
• The company declared a quarterly dividend of $0.4225, representing a 2.9% yield, while analysts maintain a consensus “Hold” rating with an average price target of $61.25.

Arrowstreet Capital Limited Partnership bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 249,098 shares of the company's stock, valued at approximately $14,562,000. Arrowstreet Capital Limited Partnership owned approximately 0.23% of TXNM Energy at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. boosted its stake in shares of TXNM Energy by 344.9% during the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock valued at $228,592,000 after purchasing an additional 3,133,794 shares in the last quarter. Norges Bank bought a new position in TXNM Energy in the fourth quarter worth approximately $182,061,000. Citadel Advisors LLC lifted its holdings in TXNM Energy by 19,952.4% during the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company's stock worth $56,948,000 after buying an additional 1,002,011 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in TXNM Energy by 83.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company's stock worth $99,279,000 after buying an additional 800,258 shares during the period. Finally, Sona Asset Management US LLC lifted its holdings in TXNM Energy by 79.8% during the third quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company's stock worth $94,090,000 after buying an additional 738,631 shares during the period. Hedge funds and other institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

Shares of TXNM opened at $57.96 on Friday. The company has a 50 day moving average of $57.76 and a two-hundred day moving average of $58.55. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a twelve month low of $55.64 and a twelve month high of $59.53. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 2.49 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09). The business had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy's dividend payout ratio (DPR) is presently 121.58%.

Analysts Set New Price Targets

TXNM has been the topic of a number of analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research note on Sunday, July 5th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $61.25.

About TXNM Energy

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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