R Squared Ltd Purchases 62,485 Shares of TXNM Energy, Inc. $TXNM

R Squared Ltd boosted its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 460.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,056 shares of the company’s stock after acquiring an additional 62,485 shares during the period. TXNM Energy makes up approximately 2.4% of R Squared Ltd’s holdings, making the stock its 3rd largest holding. R Squared Ltd owned approximately 0.07% of TXNM Energy worth $4,446,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Angelo Gordon & CO. L.P. acquired a new position in shares of TXNM Energy in the third quarter valued at $5,694,000. Alpine Global Management LLC bought a new position in TXNM Energy in the third quarter worth $1,414,000. SG Americas Securities LLC boosted its stake in TXNM Energy by 105.0% during the fourth quarter. SG Americas Securities LLC now owns 24,279 shares of the company’s stock worth $1,430,000 after buying an additional 12,434 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in TXNM Energy by 35.1% during the third quarter. Tudor Investment Corp ET AL now owns 270,120 shares of the company’s stock worth $15,275,000 after buying an additional 70,120 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in TXNM Energy in the 3rd quarter valued at $3,300,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Price Performance

Shares of TXNM Energy stock traded up $0.28 during midday trading on Tuesday, hitting $56.91. 230,793 shares of the company were exchanged, compared to its average volume of 1,412,431. 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 market cap of $6.30 billion, a P/E ratio of 40.95, a PEG ratio of 2.46 and a beta of 0.17. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53. The firm has a 50 day simple moving average of $58.36 and a 200-day simple moving average of $58.73.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The company had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. During the same quarter last year, the company earned $0.19 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. Research analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.145 per share. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, June 30th. This represents a $4.58 annualized dividend and a yield of 8.0%. TXNM Energy’s dividend payout ratio is currently 121.58%.

Wall Street Analyst Weigh In

A number of equities analysts have 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 lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday. 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 an average target price of $61.25.

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.