Picton Mahoney Asset Management Purchases Shares of 100,000 TXNM Energy, Inc. $TXNM

Key Points

• Picton Mahoney purchased a new stake of 100,000 shares in TXNM (~$5.655M), and several other institutions also added positions, leaving institutional ownership at about 91.68%.
• TXNM missed its latest quarter (EPS $0.48 vs. $0.60 estimate; revenue $533.2M vs. $593.3M), trades at a $6.42B market cap, and carries a consensus analyst rating of Hold with a $59.30 target.
• The company declared a quarterly dividend of $0.4225 (annualized $1.69, ~2.9% yield), but the dividend payout ratio is a high 115.75%, raising sustainability concerns.

Picton Mahoney Asset Management purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $5,655,000. Picton Mahoney Asset Management owned about 0.09% of TXNM Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TXNM. Burren Capital Advisors Ltd acquired a new stake in shares of TXNM Energy during the 3rd quarter worth about $3,574,000. Xponance Inc. increased its stake in TXNM Energy by 3.9% in the third quarter. Xponance Inc. now owns 13,566 shares of the company's stock valued at $767,000 after purchasing an additional 506 shares during the last quarter. Intech Investment Management LLC increased its stake in TXNM Energy by 56.7% in the third quarter. Intech Investment Management LLC now owns 98,451 shares of the company's stock valued at $5,567,000 after purchasing an additional 35,607 shares during the last quarter. Magellan Asset Management Ltd raised its holdings in TXNM Energy by 6.1% during the third quarter. Magellan Asset Management Ltd now owns 60,864 shares of the company's stock worth $3,442,000 after purchasing an additional 3,488 shares in the last quarter. Finally, Greenland Capital Management LP lifted its position in shares of TXNM Energy by 82.5% during the 3rd quarter. Greenland Capital Management LP now owns 10,662 shares of the company's stock worth $602,000 after buying an additional 4,821 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $58.94 on Thursday. The firm's fifty day simple moving average is $59.08 and its 200-day simple moving average is $57.94. TXNM Energy, Inc. has a 12 month low of $47.21 and a 12 month high of $59.52. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 40.37, a PEG ratio of 2.52 and a beta of 0.17. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.55 and a quick ratio of 0.36.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.12). The business had revenue of $533.23 million for the quarter, compared to analyst estimates of $593.29 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.During the same quarter in the prior year, the company earned $0.30 EPS. As a group, equities analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 27th will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy's dividend payout ratio (DPR) is currently 115.75%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of TXNM Energy from a "sell" rating to a "hold" rating in a report on Saturday, February 21st. Weiss Ratings restated a "hold (c+)" rating on shares of TXNM Energy in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, TXNM Energy currently has a consensus rating of "Hold" and a consensus target price of $59.30.

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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