PDT Partners LLC Takes Position in TXNM Energy, Inc. $TXNM

Key Points

• PDT Partners LLC has acquired a new position in TXNM Energy, purchasing 12,818 shares valued at around $686,000.
• Recent analyst ratings show a mixed outlook for TXNM Energy, with Barclays raising its price target to $61.00 while others downgraded their ratings.
• TXNM Energy recently declared a quarterly dividend of $0.4075 per share, with a dividend yield of 2.9% and a payout ratio of 84.02%.

PDT Partners LLC acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 12,818 shares of the company's stock, valued at approximately $686,000.

Other large investors also recently made changes to their positions in the company. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy in the 1st quarter valued at approximately $25,000. Versant Capital Management Inc acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $35,000. Fifth Third Bancorp acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $40,000. Financial Gravity Asset Management Inc. acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $41,000. Finally, Smartleaf Asset Management LLC acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Wall Street Analyst Weigh In

TXNM has been the topic of a number of recent analyst reports. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Scotiabank boosted their target price on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Barclays reissued an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.86.

TXNM Energy Stock Performance

TXNM stock traded up $0.01 during trading hours on Friday, hitting $56.83. 478,387 shares of the stock were exchanged, compared to its average volume of 940,555. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $5.99 billion, a P/E ratio of 29.29, a P/E/G ratio of 2.69 and a beta of 0.09. The company has a 50-day simple moving average of $56.72 and a two-hundred day simple moving average of $54.75. TXNM Energy, Inc. has a 12 month low of $40.47 and a 12 month high of $57.42.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.21). The firm had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 8th. TXNM Energy's dividend payout ratio is presently 84.02%.

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.