Corient Private Wealth LP Acquires Shares of 35,704 TXNM Energy, Inc. $TXNM

Key Points

• Corient Private Wealth acquired 35,704 shares of TXNM Energy in the second quarter, valued at approximately $2.0 million. Institutional investors and hedge funds collectively own 91.68% of the company.
• Analysts maintain a cautious outlook, with three analysts rating TXNM Energy “Hold” and a consensus price target of $61.25. The stock recently traded near $58.08, within its one-year range of $55.64 to $59.53.
• TXNM Energy exceeded quarterly EPS expectations, reporting $0.58 versus the $0.56 consensus, though revenue of $548.55 million fell short of estimates. The company pays a $1.69 annualized dividend, yielding about 2.9%, with a high 93.37% payout ratio.

Corient Private Wealth LP acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,704 shares of the company's stock, valued at approximately $2,027,000.

Several other large investors have also made changes to their positions in the business. Pentwater Capital Management LP purchased a new position in shares of TXNM Energy during the 2nd quarter valued at approximately $368,360,000. Balyasny Asset Management L.P. grew its stake in TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock valued at $228,592,000 after acquiring an additional 3,133,794 shares during the period. Norges Bank purchased a new stake in TXNM Energy in the 4th quarter worth $182,061,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in TXNM Energy by 420.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company's stock worth $88,839,000 after acquiring an additional 1,227,627 shares in the last quarter. Finally, Citadel Advisors LLC raised its position 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 acquiring an additional 1,002,011 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of TXNM Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy has a consensus rating of "Hold" and a consensus price target of $61.25.

TXNM Energy Stock Performance

NYSE TXNM opened at $58.08 on Thursday. The company has a market cap of $5.98 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The stock's 50 day simple moving average is $57.43 and its 200-day simple moving average is $58.28. TXNM Energy, Inc. has a 1-year low of $55.64 and a 1-year high of $59.53. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $548.55 million during the quarter, compared to analysts' expectations of $567.00 million. As a group, equities research analysts anticipate that TXNM Energy, Inc. will post 3.03 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy's payout ratio is 93.37%.

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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