Energy Income Partners LLC Purchases 62,874 Shares of TXO Partners LP $TXO

Key Points

• Energy Income Partners LLC increased its holdings in TXO Partners LP by 8.7%, now owning approximately 1.89% of the company, worth about $15 million.
• TXO Partners recently declared a quarterly dividend of $0.45 per share, representing a 12.8% yield, but its dividend payout ratio stands at a high 545.45%.
• Analysts have set a consensus price target of $22.50 for TXO Partners, with some brokerages issuing "buy" ratings and price targets as high as $24.00.

Energy Income Partners LLC increased its stake in shares of TXO Partners LP (NYSE:TXO - Free Report) by 8.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 783,614 shares of the company's stock after acquiring an additional 62,874 shares during the quarter. Energy Income Partners LLC owned about 1.89% of TXO Partners worth $15,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Total Wealth Planning & Management Inc. bought a new stake in TXO Partners in the 4th quarter valued at $1,517,000. Wealthedge Investment Advisors LLC bought a new stake in TXO Partners in the 4th quarter valued at $1,169,000. Jane Street Group LLC bought a new stake in TXO Partners in the 4th quarter valued at $461,000. Atria Wealth Solutions Inc. bought a new stake in TXO Partners in the 1st quarter valued at $230,000. Finally, CWA Asset Management Group LLC increased its holdings in TXO Partners by 29.1% in the 1st quarter. CWA Asset Management Group LLC now owns 50,124 shares of the company's stock valued at $960,000 after buying an additional 11,294 shares during the period. Institutional investors own 27.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on TXO. Stifel Nicolaus boosted their price target on shares of TXO Partners from $20.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Wall Street Zen raised shares of TXO Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $24.00 target price (up previously from $23.00) on shares of TXO Partners in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, TXO Partners presently has a consensus rating of "Strong Buy" and a consensus price target of $22.50.

TXO Partners Stock Down 0.6%

NYSE TXO traded down $0.09 during trading hours on Tuesday, reaching $14.01. 119,159 shares of the company's stock were exchanged, compared to its average volume of 202,579. The company's 50-day moving average is $14.75 and its two-hundred day moving average is $16.40. TXO Partners LP has a one year low of $13.35 and a one year high of $20.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $767.19 million, a price-to-earnings ratio of 42.44 and a beta of 0.09.

TXO Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend was Friday, August 15th. TXO Partners's dividend payout ratio (DPR) is currently 545.45%.

About TXO Partners

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.