TXNM Energy, Inc. $TXNM Shares Purchased by GABELLI & Co INVESTMENT ADVISERS INC.

Key Points

• GABELLI & Co. INVESTMENT ADVISERS INC. increased its TXNM Energy stake by 11.4% in the first quarter, buying 35,550 additional shares and bringing its total to 346,186 shares worth about $20.2 million.
• TXNM Energy reported Q1 earnings of $0.21 per share, below the $0.30 consensus estimate, while revenue came in slightly under forecasts at $504.98 million.
• The company cut its quarterly dividend to $0.4225 per share, implying an annualized yield of 2.9%, and analysts currently rate the stock a consensus Hold with a $61.25 average target price.

GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 11.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 346,186 shares of the company's stock after purchasing an additional 35,550 shares during the period. TXNM Energy comprises 3.0% of GABELLI & Co INVESTMENT ADVISERS INC.'s portfolio, making the stock its 6th biggest holding. GABELLI & Co INVESTMENT ADVISERS INC. owned about 0.31% of TXNM Energy worth $20,238,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its holdings in shares of TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company's stock valued at $74,000 after acquiring an additional 236 shares during the period. Kestra Advisory Services LLC bought a new position in shares of TXNM Energy during the fourth quarter valued at $74,000. Larson Financial Group LLC boosted its stake in shares of TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company's stock valued at $78,000 after purchasing an additional 623 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of TXNM Energy by 22.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock valued at $86,000 after purchasing an additional 268 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Stock Up 0.1%

NYSE TXNM opened at $58.34 on Friday. The stock's 50 day simple moving average is $57.87 and its 200 day simple moving average is $58.59. TXNM Energy, Inc. has a one year low of $55.64 and a one year high of $59.53. The firm has a market cap of $6.46 billion, a PE ratio of 41.97, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17. The company has a debt-to-equity ratio of 1.46, 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 data on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09). The business had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, sell-side analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $0.4225 dividend. 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, August 3rd. TXNM Energy's payout ratio is currently 121.58%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXNM. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Sunday, July 5th. Weiss Ratings reissued a "hold (c)" rating on shares of TXNM Energy in a report on Friday, May 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $61.25.

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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