PSquared Asset Management AG Purchases Shares of 274,400 TXNM Energy, Inc. $TXNM

PSquared Asset Management AG purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 274,400 shares of the company’s stock, valued at approximately $15,349,000. TXNM Energy comprises about 5.0% of PSquared Asset Management AG’s investment portfolio, making the stock its 9th biggest position.

Several other large investors also recently made changes to their positions in TXNM. Los Angeles Capital Management LLC acquired a new position in TXNM Energy during the fourth quarter worth $27,000. Kestra Advisory Services LLC bought a new position in shares of TXNM Energy in the 4th quarter valued at about $74,000. EverSource Wealth Advisors LLC increased its stake in shares of TXNM Energy by 17.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after purchasing an additional 184 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of TXNM Energy by 23.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after purchasing an additional 623 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Stock Up 0.0%

TXNM Energy stock opened at $57.55 on Friday. The company’s 50-day moving average price is $57.39 and its two-hundred day moving average price is $58.32. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.44. The stock has a market cap of $5.93 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.48 and a beta of 0.17. TXNM Energy, Inc. has a twelve month low of $55.64 and a twelve month high of $59.53.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The company had revenue of $548.55 million for 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%. As a group, analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

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