TXNM Energy, Inc. $TXNM Stock Position Boosted by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd boosted its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 35.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 789,989 shares of the company’s stock after acquiring an additional 205,232 shares during the period. TXNM Energy accounts for about 4.6% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 6th largest holding. Melqart Asset Management UK Ltd owned approximately 0.73% of TXNM Energy worth $46,515,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in TXNM Energy by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock valued at $700,631,000 after purchasing an additional 330,382 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of TXNM Energy by 344.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after purchasing an additional 3,133,794 shares during the period. Norges Bank acquired a new stake in shares of TXNM Energy during the 4th quarter worth about $182,061,000. Geode Capital Management LLC raised its holdings in TXNM Energy by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock valued at $151,378,000 after buying an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in TXNM Energy by 53.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock valued at $113,704,000 after buying an additional 668,929 shares during the period. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Trading Down 0.3%

TXNM opened at $56.88 on Wednesday. TXNM Energy, Inc. has a 52 week low of $56.17 and a 52 week high of $59.53. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The business has a fifty day simple moving average of $58.92 and a 200-day simple moving average of $58.87. The firm has a market cap of $6.30 billion, a P/E ratio of 40.92, a P/E/G ratio of 2.46 and a beta of 0.16.

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

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $1.145 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.58 annualized dividend and a yield of 8.1%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s dividend payout ratio is presently 121.58%.

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.