DLD Asset Management LP Lowers Position in TXNM Energy, Inc. $TXNM

Key Points

• DLD Asset Management LP cut its TXNM Energy stake by 59.6% in the first quarter, selling 50,676 shares and leaving it with 34,405 shares valued at about $2.0 million.
• TXNM Energy reported quarterly EPS of $0.21, missing analyst estimates of $0.30, while revenue came in roughly in line at $505 million and rose 4.6% year over year.
• The company announced a quarterly dividend of $0.4225 per share, implying a 2.9% yield, but its dividend payout ratio is high at 121.58%.

DLD Asset Management LP trimmed its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 59.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,405 shares of the company's stock after selling 50,676 shares during the quarter. DLD Asset Management LP's holdings in TXNM Energy were worth $2,011,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TXNM. SG Americas Securities LLC increased its holdings in TXNM Energy by 105.0% in the fourth quarter. SG Americas Securities LLC now owns 24,279 shares of the company's stock valued at $1,430,000 after buying an additional 12,434 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of TXNM Energy in the fourth quarter worth about $2,354,000. Tudor Investment Corp ET AL boosted its stake in shares of TXNM Energy by 35.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 270,120 shares of the company's stock worth $15,275,000 after acquiring an additional 70,120 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of TXNM Energy by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company's stock worth $700,631,000 after acquiring an additional 330,382 shares in the last quarter. Finally, UBS Group AG grew its position in shares of TXNM Energy by 54.2% during the 4th quarter. UBS Group AG now owns 1,244,976 shares of the company's stock valued at $73,304,000 after acquiring an additional 437,727 shares during the period. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Up 0.4%

TXNM opened at $58.33 on Thursday. TXNM Energy, Inc. has a twelve month low of $55.64 and a twelve month high of $59.53. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average price of $57.91 and a 200 day moving average price of $58.59. The company has a market cap of $6.46 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17.

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 for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The company had revenue of $504.98 million during the quarter, compared to analysts' expectations of $506.24 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share 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. Stockholders of record on Monday, August 3rd will be given a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 3rd. TXNM Energy's dividend payout ratio (DPR) is 121.58%.

Wall Street Analyst Weigh In

TXNM has been the topic of several research analyst reports. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of TXNM Energy in a research note on Friday, May 29th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average 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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