Energy Income Partners LLC Has $15.01 Million Stock Position in 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 raised its position in TXO Partners LP (NYSE:TXO - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 783,614 shares of the company's stock after purchasing an additional 62,874 shares during the quarter. Energy Income Partners LLC owned approximately 1.89% of TXO Partners worth $15,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in TXO Partners in the first quarter valued at about $216,000. Jane Street Group LLC bought a new stake in shares of TXO Partners during the 4th quarter worth about $461,000. Wealthedge Investment Advisors LLC bought a new stake in shares of TXO Partners during the 4th quarter worth about $1,169,000. Total Wealth Planning & Management Inc. bought a new position in shares of TXO Partners in the 4th quarter valued at approximately $1,517,000. Finally, Atria Wealth Solutions Inc. bought a new position in shares of TXO Partners in the 1st quarter valued at approximately $230,000. Hedge funds and other institutional investors own 27.44% of the company's stock.

TXO Partners Price Performance

Shares of TXO Partners stock traded down $0.25 during midday trading on Friday, hitting $13.57. 103,192 shares of the company were exchanged, compared to its average volume of 193,109. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $743.36 million, a P/E ratio of 41.12 and a beta of 0.09. TXO Partners LP has a 52 week low of $13.35 and a 52 week high of $20.70. The firm has a 50 day simple moving average of $14.70 and a 200-day simple moving average of $16.35.

TXO Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were given a $0.45 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 13.3%. TXO Partners's payout ratio is presently 545.45%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TXO. Wall Street Zen raised TXO Partners from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Stifel Nicolaus increased their target price on TXO Partners from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Finally, Raymond James Financial restated a "strong-buy" rating and set a $24.00 target price (up previously from $23.00) on shares of TXO Partners in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus target price of $22.50.

TXO Partners Profile

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.