Weiss Asset Management LP Invests $9.67 Million in TXNM Energy, Inc. $TXNM

Key Points

• Weiss Asset Management LP initiated a new position in TXNM Energy during the first quarter, buying 165,405 shares worth about $9.67 million.
• TXNM Energy has seen significant institutional ownership activity, with investors like Vanguard and UBS also adjusting positions; overall, institutions own 91.68% of the stock.
• The company recently cut its quarterly dividend to $0.4225 per share, while analysts currently rate the stock a Hold with an average price target of $61.25.

Weiss Asset Management LP purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 165,405 shares of the company's stock, valued at approximately $9,670,000. Weiss Asset Management LP owned 0.15% of TXNM Energy as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TXNM. SG Americas Securities LLC grew its holdings in shares of TXNM Energy by 105.0% during the fourth quarter. SG Americas Securities LLC now owns 24,279 shares of the company's stock valued at $1,430,000 after purchasing an additional 12,434 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $2,354,000. Vanguard Group Inc. lifted its holdings in shares of TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company's stock worth $700,631,000 after purchasing an additional 330,382 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in TXNM Energy by 35.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 270,120 shares of the company's stock valued at $15,275,000 after purchasing an additional 70,120 shares during the period. Finally, UBS Group AG boosted its position in TXNM Energy by 54.2% during the 4th quarter. UBS Group AG now owns 1,244,976 shares of the company's stock valued at $73,304,000 after purchasing an additional 437,727 shares during the period. Institutional investors own 91.68% of the company's stock.

Analysts Set New Price Targets

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

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $58.34 on Friday. The firm's 50 day moving average is $57.87 and its two-hundred day moving average is $58.59. The firm has a market capitalization of $6.46 billion, a P/E ratio of 41.97, a PEG ratio of 2.52 and a beta of 0.17. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53.

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). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The business's quarterly revenue was up 4.6% on a year-over-year basis. Analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be paid a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy's payout ratio is presently 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.

Want to see what other hedge funds are holding TXNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TXNM Energy, Inc. (NYSE:TXNM - Free Report).

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.