Gamco Investors INC. ET AL Has $44.16 Million Stock Position in TXNM Energy, Inc. $TXNM

Key Points

• Gamco Investors trimmed its TXNM Energy stake by 2.3% in the first quarter, but still held 755,326 shares valued at about $44.16 million.
• TXNM Energy reported Q1 earnings of $0.21 per share, missing analyst expectations of $0.30, while revenue came in roughly in line at $504.98 million. The company also said revenue rose 4.6% from a year earlier.
• The company declared a quarterly dividend of $0.4225 per share, implying a 2.9% yield, while analysts currently rate the stock Hold on average with a price target of $61.25.

Gamco Investors INC. ET AL lowered its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 755,326 shares of the company's stock after selling 18,114 shares during the period. Gamco Investors INC. ET AL owned 0.68% of TXNM Energy worth $44,156,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its holdings in shares of TXNM Energy by 344.9% during the third 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 in the last quarter. Norges Bank acquired a new position in shares of TXNM Energy during the fourth quarter worth approximately $182,061,000. Citadel Advisors LLC lifted its holdings in shares of TXNM Energy by 19,952.4% in the 3rd 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 in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of TXNM Energy by 83.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company's stock worth $99,279,000 after purchasing an additional 800,258 shares in the last quarter. Finally, Sona Asset Management US LLC grew its position in TXNM Energy by 79.8% in the 3rd quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company's stock valued at $94,090,000 after purchasing an additional 738,631 shares during the period. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Price Performance

TXNM stock opened at $58.34 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The business has a 50-day simple moving average of $57.87 and a two-hundred day simple moving average of $58.59. The company has a market capitalization of $6.46 billion, a P/E ratio of 41.97, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The company had revenue of $504.98 million during the quarter, compared to analysts' expectations of $506.24 million. During the same period last year, the company earned $0.19 earnings per share. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. Research analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a dividend of $0.4225 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy's dividend payout ratio is 121.58%.

Analysts Set New Price Targets

A number of brokerages have commented on TXNM. Weiss Ratings restated a "hold (c)" rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Sunday, July 5th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, TXNM Energy currently has an average rating of "Hold" and an average price target of $61.25.

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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