Athos Capital Ltd Purchases Shares of 157,592 TXNM Energy, Inc. $TXNM

Key Points

• Athos Capital acquired 157,592 shares of TXNM Energy worth approximately $8.95 million, representing 3.2% of its portfolio and 0.15% of the company. Institutional investors collectively own 91.68% of TXNM’s stock.
• TXNM Energy reported quarterly EPS of $0.58, exceeding estimates by $0.02, while revenue of $548.55 million fell short of the $567 million consensus. Analysts expect full-year EPS of $3.07.
• The stock recently traded at $57.27, near its 52-week range, and analysts maintain a consensus “Hold” rating with an average price target of $61.25. The company pays an annualized dividend of $1.69, yielding about 3.0%.

Athos Capital Ltd bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 157,592 shares of the company's stock, valued at approximately $8,948,000. TXNM Energy accounts for approximately 3.2% of Athos Capital Ltd's investment portfolio, making the stock its 10th biggest holding. Athos Capital Ltd owned 0.15% of TXNM Energy as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its position in 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 during the period. Norges Bank acquired a new stake in TXNM Energy during the 4th quarter worth about $182,061,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of TXNM Energy by 420.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company's stock valued at $88,839,000 after buying an additional 1,227,627 shares during the last quarter. Citadel Advisors LLC raised its stake in shares of TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company's stock valued at $56,948,000 after buying an additional 1,002,011 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of TXNM Energy by 83.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company's stock valued at $99,279,000 after buying an additional 800,258 shares during the period. Hedge funds and other institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

TXNM Energy stock opened at $57.27 on Monday. The company's fifty day moving average price is $57.34 and its 200 day moving average price is $58.37. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The stock has a market capitalization of $5.90 billion, a P/E ratio of 31.64, a P/E/G ratio of 2.47 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The company had revenue of $548.55 million during the quarter, compared to analyst estimates of $567.00 million. As a group, equities research analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were given a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, August 3rd. TXNM Energy's dividend payout ratio is 93.37%.

Analysts Set New Price Targets

TXNM has been the subject of a number of analyst reports. Wall Street Zen raised TXNM Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $61.25.

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. 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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