Capital Fund Management S.A. Acquires 15,352 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Capital Fund Management S.A. increased its stake in TXNM Energy, buying 15,352 shares during the 1st quarter, bringing its total holdings to 29,253 shares valued at approximately $1.56 million.
• TXNM Energy announced a quarterly dividend of $0.4075, resulting in an annualized dividend of $1.63 and a yield of 2.9%.
• Recent analyst reports have shown mixed ratings for TXNM Energy, with Barclays setting a price target of $61.00, while others have downgraded the stock, reflecting a consensus rating of Moderate Buy.

Capital Fund Management S.A. grew its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 110.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,253 shares of the company's stock after acquiring an additional 15,352 shares during the quarter. Capital Fund Management S.A.'s holdings in TXNM Energy were worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in TXNM Energy in the 1st quarter valued at $25,000. Versant Capital Management Inc bought a new stake in shares of TXNM Energy in the first quarter valued at about $35,000. Fifth Third Bancorp bought a new stake in shares of TXNM Energy in the first quarter valued at about $40,000. Financial Gravity Asset Management Inc. bought a new stake in shares of TXNM Energy in the first quarter valued at about $41,000. Finally, LRI Investments LLC bought a new stake in shares of TXNM Energy in the fourth quarter valued at about $40,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Price Performance

TXNM stock traded down $0.13 during trading on Thursday, hitting $56.53. 943,974 shares of the stock traded hands, compared to its average volume of 1,131,226. TXNM Energy, Inc. has a one year low of $40.47 and a one year high of $57.42. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 2.68 and a beta of 0.10. The company has a 50 day simple moving average of $56.68 and a 200 day simple moving average of $54.45. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results 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). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy's quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders 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 dividend yield of 2.9%. TXNM Energy's payout ratio is 84.02%.

Analysts Set New Price Targets

A number of brokerages have commented on TXNM. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Scotiabank raised 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 cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, TXNM Energy currently has an average rating of "Moderate Buy" and a consensus price target 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.