Tudor Investment Corp ET AL Raises Holdings in TXNM Energy, Inc. $TXNM

Key Points

• Tudor Investment Corp ET AL increased its stake in TXNM by 35.1% to 270,120 shares (about $15.28M), and institutional investors now own 91.68% of the company with several funds initiating or enlarging positions.
• TXNM missed quarterly expectations, reporting $0.48 EPS vs. $0.60 expected and $533.23M revenue vs. $593.29M expected, and Street consensus remains a "Hold" with a $60.88 target price.
• The company declared a quarterly dividend of $0.4225 ($1.69 annualized, 2.9% yield), but the dividend payout ratio is an elevated 115.75%, suggesting potential sustainability concerns.

Tudor Investment Corp ET AL increased its holdings in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 35.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 270,120 shares of the company's stock after buying an additional 70,120 shares during the period. Tudor Investment Corp ET AL owned about 0.25% of TXNM Energy worth $15,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of TXNM Energy by 55.4% in the 3rd quarter. Principal Financial Group Inc. now owns 330,336 shares of the company's stock worth $18,681,000 after acquiring an additional 117,765 shares in the last quarter. AlphaQuest LLC bought a new stake in TXNM Energy during the third quarter valued at about $2,880,000. Angelo Gordon & CO. L.P. purchased a new position in TXNM Energy in the third quarter valued at about $5,694,000. Athos Capital Ltd purchased a new position in TXNM Energy in the third quarter valued at about $8,078,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in TXNM Energy in the second quarter worth about $6,974,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TXNM shares. 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 reiterated 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 issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $60.88.

TXNM Energy Stock Up 0.0%

TXNM Energy stock opened at $58.86 on Friday. TXNM Energy, Inc. has a 1-year low of $47.69 and a 1-year high of $59.52. The business has a fifty day moving average price of $58.87 and a 200-day moving average price of $58.22. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.55 and a quick ratio of 0.38. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.52 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 7.27% and a return on equity of 7.54%. During the same period in the prior year, the company earned $0.30 earnings per share. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be issued a dividend of $0.4225 per share. The ex-dividend date is Monday, April 27th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.