Capula Management Ltd Takes Position in TXNM Energy, Inc. $TXNM

Key Points

• Capula Management Ltd initiated a new position in TXNM Energy in the first quarter, buying 36,021 shares worth about $2.1 million. Several other institutional investors also added to or increased their stakes, and hedge funds and institutions now own 91.68% of the company.
• TXNM Energy reported quarterly EPS of $0.21, missing analyst expectations of $0.30, while revenue came in roughly in line at $504.98 million and was up 4.6% year over year. Analysts currently expect the company to earn 3.07 EPS for the full fiscal year.
• The company declared a quarterly dividend of $0.4225 per share, or $1.69 annualized, for a yield of about 2.9%. However, its payout ratio is high at 121.58%, and the stock has a consensus analyst rating of Hold with a $61.25 price target.

Capula Management Ltd purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,021 shares of the company's stock, valued at approximately $2,106,000.

Other large investors have also modified their holdings of the company. Empowered Funds LLC bought a new position in TXNM Energy in the 1st quarter worth about $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of TXNM Energy by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company's stock valued at $15,902,000 after buying an additional 32,776 shares during the last quarter. M&T Bank Corp boosted its position in shares of TXNM Energy by 29.4% during the second quarter. M&T Bank Corp now owns 6,271 shares of the company's stock worth $353,000 after buying an additional 1,426 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of TXNM Energy by 215.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company's stock worth $86,000 after buying an additional 1,043 shares during the period. Finally, Marshall Wace LLP grew its holdings in TXNM Energy by 323.5% in the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company's stock worth $7,130,000 after buying an additional 96,708 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Stock Performance

TXNM opened at $58.28 on Friday. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 41.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. TXNM Energy, Inc. has a 1-year low of $55.64 and a 1-year high of $59.53. The business has a 50 day moving average price of $57.89 and a two-hundred day moving average price of $58.59.

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 the consensus estimate of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The firm had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same quarter last year, the business posted $0.19 earnings per share. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy's payout ratio is presently 121.58%.

Analyst Upgrades and Downgrades

TXNM has been the topic of several analyst reports. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research report on Sunday, July 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of TXNM Energy in a research report on Friday, May 29th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, TXNM Energy currently 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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