Deutsche Bank AG Purchases New Position in TXNM Energy, Inc. $TXNM

Key Points

• Deutsche Bank AG purchased 112,141 TXNM Energy shares in the second quarter, valued at approximately $6.4 million and representing about 0.11% of the company.
• Institutional ownership remains high at 91.68%, with several major investors—including Balyasny Asset Management, Norges Bank and Healthcare of Ontario Pension Plan—adding substantially to their positions.
• Analysts maintain a consensus “Hold” rating with an average price target of $61.25. TXNM recently beat quarterly earnings expectations by reporting $0.58 per share versus a $0.56 estimate and pays a $1.69 annualized dividend, yielding about 3.0%.

Deutsche Bank AG purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 112,141 shares of the company's stock, valued at approximately $6,367,000. Deutsche Bank AG owned approximately 0.11% of TXNM Energy at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Balyasny Asset Management L.P. boosted its position in shares of TXNM Energy by 344.9% during 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 last quarter. Norges Bank purchased a new position in shares of TXNM Energy in the fourth quarter valued at $182,061,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in TXNM Energy by 420.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company's stock worth $88,839,000 after purchasing an additional 1,227,627 shares during the last quarter. Citadel Advisors LLC increased its position in TXNM Energy by 19,952.4% in the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company's stock worth $56,948,000 after purchasing an additional 1,002,011 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake 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 valued at $99,279,000 after purchasing an additional 800,258 shares in the last quarter. Institutional investors own 91.68% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. 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. Wall Street Zen upgraded shares of TXNM Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy has a consensus rating of "Hold" and an average price target of $61.25.

TXNM Energy Price Performance

NYSE:TXNM opened at $57.12 on Tuesday. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.47 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The business has a 50 day simple moving average of $57.35 and a 200-day simple moving average of $58.36. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $567.00 million. Equities analysts forecast that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

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

TXNM Energy Company 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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