Polar Asset Management Partners Inc. Lowers Stock Holdings in TXNM Energy, Inc. $TXNM

Key Points

• Polar Asset Management cut its TXNM stake by 81.1%, selling 150,000 shares and leaving it with 35,000 shares valued at about $1.98 million at the end of the quarter.
• TXNM missed quarterly expectations, reporting $0.48 EPS versus $0.60 expected and $533.2M revenue versus $593.3M, and carries a consensus analyst rating of Hold with a $60.88 price target.
• The company announced a quarterly dividend of $0.4225 (annualized $1.69, 2.9% yield), though its dividend payout ratio is an elevated 115.75%.

Polar Asset Management Partners Inc. lowered its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 81.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,000 shares of the company's stock after selling 150,000 shares during the period. Polar Asset Management Partners Inc.'s holdings in TXNM Energy were worth $1,979,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cape Investment Advisory Inc. purchased a new position in TXNM Energy in the 2nd quarter valued at $28,000. Smartleaf Asset Management LLC boosted its holdings in shares of TXNM Energy by 280.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company's stock valued at $58,000 after acquiring an additional 756 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of TXNM Energy by 574.0% in the third quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company's stock valued at $73,000 after acquiring an additional 1,102 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of TXNM Energy by 81.8% during the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company's stock worth $78,000 after acquiring an additional 623 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in TXNM Energy by 215.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company's stock worth $86,000 after purchasing an additional 1,043 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TXNM shares. Wall Street Zen upgraded shares of TXNM Energy from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Weiss Ratings restated a "hold (c+)" rating on shares of TXNM Energy in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $60.88.

TXNM Energy Stock Performance

Shares of TXNM opened at $58.30 on Friday. TXNM Energy, Inc. has a 52-week low of $47.69 and a 52-week high of $59.52. The company has a quick ratio of 0.38, a current ratio of 0.55 and a debt-to-equity ratio of 1.48. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 39.93, a PEG ratio of 2.49 and a beta of 0.17. The business's 50 day moving average is $59.01 and its two-hundred day moving average is $58.08.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.12). The company 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 period in the prior year, the business earned $0.30 earnings per share. Analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be 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 of this dividend is Monday, April 27th. TXNM Energy's dividend payout ratio is 115.75%.

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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