Caxton Associates LLP Makes New $40.67 Million Investment in TXNM Energy, Inc. $TXNM

Caxton Associates LLP acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 695,635 shares of the company’s stock, valued at approximately $40,667,000. TXNM Energy comprises approximately 0.9% of Caxton Associates LLP’s holdings, making the stock its 21st largest position.

Several other large investors also recently modified their holdings of the business. Balyasny Asset Management L.P. lifted its stake in shares of TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank purchased a new position in TXNM Energy in the fourth quarter valued at about $182,061,000. Citadel Advisors LLC grew its stake in TXNM Energy by 19,952.4% during the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after purchasing an additional 1,002,011 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in TXNM Energy by 83.1% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock valued at $99,279,000 after purchasing an additional 800,258 shares in the last quarter. Finally, Sona Asset Management US LLC increased its holdings in TXNM Energy by 79.8% during the 3rd quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company’s stock worth $94,090,000 after purchasing an additional 738,631 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $58.28 on Friday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The firm’s 50-day simple moving average is $57.89 and its 200-day simple moving average is $58.59. The firm has a market cap of $6.45 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17.

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

TXNM Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be issued a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 3rd. TXNM Energy’s dividend payout ratio (DPR) is currently 121.58%.

Analyst Upgrades and Downgrades

TXNM has been the topic of a number of recent analyst reports. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.