GABELLI & Co INVESTMENT ADVISERS INC. Has $18.29 Million Stock Position in TXNM Energy, Inc. $TXNM

GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 8.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,636 shares of the company’s stock after purchasing an additional 24,300 shares during the quarter. TXNM Energy accounts for approximately 2.8% of GABELLI & Co INVESTMENT ADVISERS INC.’s investment portfolio, making the stock its 9th largest holding. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in TXNM Energy were worth $18,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Federated Hermes Inc. lifted its position in shares of TXNM Energy by 3.3% during the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock worth $356,000 after purchasing an additional 199 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of TXNM Energy by 22.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after purchasing an additional 268 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of TXNM Energy by 1.3% during the third quarter. State of Michigan Retirement System now owns 22,589 shares of the company’s stock worth $1,277,000 after purchasing an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of TXNM Energy by 20.4% during the third quarter. EverSource Wealth Advisors LLC now owns 1,839 shares of the company’s stock worth $104,000 after purchasing an additional 311 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of TXNM Energy by 12.3% during the fourth quarter. Signaturefd LLC now owns 3,063 shares of the company’s stock worth $180,000 after purchasing an additional 336 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Stock Performance

TXNM stock opened at $59.23 on Monday. 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 business has a 50-day moving average price of $58.85 and a 200 day moving average price of $58.67. The company has a market capitalization of $6.56 billion, a P/E ratio of 42.61, a PEG ratio of 2.56 and a beta of 0.16. TXNM Energy, Inc. has a 1-year low of $52.59 and a 1-year high of $59.52.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). The firm had revenue of $504.98 million during the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, equities research analysts forecast that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, April 27th were issued a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Monday, April 27th. TXNM Energy’s payout ratio is presently 121.58%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.88.

TXNM Energy Company 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.