Glazer Capital LLC Acquires New Holdings in TXNM Energy, Inc. $TXNM

Key Points

• Glazer Capital acquired 323,587 shares of TXNM Energy worth approximately $18.4 million, giving it a 0.31% stake. Institutional investors collectively own 91.68% of the company.
• Analysts maintain a consensus “Hold” rating, with an average price target of $61.25. TXNM recently reported quarterly EPS of $0.58, exceeding estimates, though revenue fell short of expectations.
• TXNM declared a quarterly dividend of $0.4225 per share, equivalent to an annualized $1.69 dividend and a 2.9% yield. Its payout ratio stands at a high 93.37%.

Glazer Capital LLC bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 323,587 shares of the company's stock, valued at approximately $18,373,000. Glazer Capital LLC owned approximately 0.31% of TXNM Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TXNM. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy during the 4th quarter valued at $27,000. EverSource Wealth Advisors LLC increased its holdings in TXNM Energy by 17.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company's stock worth $73,000 after purchasing an additional 184 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in TXNM Energy by 23.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company's stock worth $74,000 after purchasing an additional 236 shares in the last quarter. Kestra Advisory Services LLC bought a new position in TXNM Energy in the fourth quarter valued at about $74,000. Finally, Larson Financial Group LLC raised its position in TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company's stock valued at $78,000 after purchasing an additional 623 shares during the last quarter. Institutional investors own 91.68% of the company's stock.

Analyst Ratings Changes

TXNM has been the topic of a number of recent research reports. Wall Street Zen raised TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy currently has a consensus rating of "Hold" and an average price target of $61.25.

TXNM Energy Trading Up 0.0%

Shares of TXNM stock opened at $57.55 on Friday. The stock has a 50 day simple moving average of $57.39 and a two-hundred day simple moving average of $58.32. The company has a market cap of $5.93 billion, a P/E ratio of 31.79, a PEG ratio of 2.48 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. TXNM Energy, Inc. has a fifty-two week low of $55.64 and a fifty-two week 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $548.55 million for the quarter, compared to the consensus estimate of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. Research analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, August 3rd. TXNM Energy's payout ratio is 93.37%.

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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