TXNM Energy, Inc. $TXNM Shares Sold by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners cut its TXNM Energy stake by 39.9% in the first quarter, selling 53,636 shares and retaining 80,719 shares worth approximately $4.7 million. Institutional investors and hedge funds collectively own 91.68% of the stock.
• Analyst sentiment remains cautious: TXNM has an average “Hold” rating, with three analysts at Hold and a consensus price target of $61.25. Wall Street Zen recently downgraded the shares to “Sell.”
• TXNM reported quarterly EPS of $0.21, below the $0.30 consensus estimate, while revenue rose 4.6% year over year to $504.98 million. The company declared a quarterly dividend of $0.4225, implying a 2.9% yield, though its payout ratio is elevated at 121.58%.

Polar Asset Management Partners Inc. reduced its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 39.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,719 shares of the company's stock after selling 53,636 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.07% of TXNM Energy worth $4,719,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in TXNM Energy during the 4th quarter valued at approximately $27,000. Kestra Advisory Services LLC purchased a new position in shares of TXNM Energy in the fourth quarter worth $74,000. Smartleaf Asset Management LLC lifted its stake 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 worth $74,000 after buying an additional 236 shares during the period. Larson Financial Group LLC grew its holdings 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 valued at $78,000 after buying an additional 623 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of TXNM Energy by 22.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock valued at $86,000 after buying an additional 268 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TXNM shares. Weiss Ratings restated a "hold (c)" rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research note on Sunday, July 5th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $61.25.

TXNM Energy Trading Down 0.1%

Shares of TXNM Energy stock opened at $58.34 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. The firm has a fifty day moving average price of $57.87 and a 200 day moving average price of $58.58. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The stock has a market cap of $6.46 billion, a PE ratio of 41.97, a price-to-earnings-growth ratio of 2.52 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million during the quarter, compared to analysts' expectations of $506.24 million. During the same period in the previous year, the company posted $0.19 earnings per share. TXNM Energy's revenue for the quarter was up 4.6% compared to the same quarter last year. Equities research analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy's payout ratio is 121.58%.

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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