NINE MASTS CAPITAL Ltd Purchases New Holdings in TXNM Energy, Inc. $TXNM

NINE MASTS CAPITAL Ltd acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 138,521 shares of the company’s stock, valued at approximately $7,865,000. TXNM Energy accounts for 0.8% of NINE MASTS CAPITAL Ltd’s investment portfolio, making the stock its 19th largest position. NINE MASTS CAPITAL Ltd owned about 0.13% of TXNM Energy at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC raised its position in TXNM Energy by 17.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after buying an additional 184 shares during the period. Smartleaf Asset Management LLC raised its position in 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 buying an additional 236 shares during the period. Kestra Advisory Services LLC purchased a new stake in TXNM Energy in the 4th quarter worth about $74,000. Finally, Larson Financial Group LLC lifted its stake in TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after acquiring an additional 623 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TXNM. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, TXNM Energy has an average rating of “Hold” and an average price target of $61.25.

TXNM Energy Price Performance

NYSE TXNM opened at $57.52 on Tuesday. TXNM Energy, Inc. has a fifty-two week low of $55.64 and a fifty-two week high of $59.53. The stock’s 50-day moving average is $57.34 and its two-hundred day moving average is $58.41. The firm has a market cap of $5.93 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 2.48 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $548.55 million during the quarter, compared to the consensus estimate of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. On average, analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a dividend of $0.4225 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio is presently 93.37%.

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.