Groupe la Francaise Boosts Position in TXNM Energy, Inc. $TXNM

Key Points

• Institutional ownership increased: Groupe la Française raised its TXNM Energy stake by 9.7% to 341,953 shares, while several other major funds initiated or expanded positions. Institutional investors now own 91.68% of the company.
• Quarterly results were mixed: TXNM reported adjusted earnings of $0.58 per share, beating estimates of $0.56, but revenue of $548.55 million fell short of the $567 million consensus.
• Shares remain rated “Hold”: TXNM traded near $58.03, compared with analysts’ average price target of $61.25. The company pays a $1.69 annualized dividend, yielding about 2.9%, though its 93.37% payout ratio is high.

Groupe la Francaise raised its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 9.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 341,953 shares of the company's stock after purchasing an additional 30,121 shares during the period. Groupe la Francaise owned about 0.33% of TXNM Energy worth $19,416,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TXNM. Pentwater Capital Management LP purchased a new stake in shares of TXNM Energy in the 2nd quarter worth about $368,360,000. California State Teachers Retirement System increased its holdings in TXNM Energy by 5,416.3% during the 2nd quarter. California State Teachers Retirement System now owns 6,484,901 shares of the company's stock valued at $368,213,000 after acquiring an additional 6,367,343 shares in the last quarter. Balyasny Asset Management L.P. raised its position in 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 worth $228,592,000 after acquiring an additional 3,133,794 shares during the last quarter. Norges Bank acquired a new position in shares of TXNM Energy during the 4th quarter worth approximately $182,061,000. Finally, Geode Capital Management LLC lifted its position in shares of TXNM Energy by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company's stock valued at $151,378,000 after acquiring an additional 161,141 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company's stock.

TXNM Energy Trading Up 0.1%

NYSE TXNM opened at $58.03 on Monday. The company has a market cap of $6.39 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.53 and a beta of 0.17. TXNM Energy, Inc. has a 12 month low of $55.64 and a 12 month high of $59.53. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The company has a 50-day moving average of $57.46 and a 200-day moving average of $58.27.

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 firm had revenue of $548.55 million during 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%. As a group, equities analysts predict that TXNM Energy, Inc. will post 3.03 earnings per share for the current year.

TXNM Energy Cuts Dividend

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

Analyst Ratings Changes

TXNM has been the subject of several analyst reports. Weiss Ratings raised shares of TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus 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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