GABELLI & Co INVESTMENT ADVISERS INC. Buys 35,550 Shares of TXNM Energy, Inc. $TXNM

GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 346,186 shares of the company’s stock after purchasing an additional 35,550 shares during the quarter. TXNM Energy comprises about 3.0% of GABELLI & Co INVESTMENT ADVISERS INC.’s portfolio, making the stock its 6th biggest position. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in TXNM Energy were worth $20,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Balyasny Asset Management L.P. raised its position in TXNM Energy by 344.9% in 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 last quarter. Norges Bank bought a new position in TXNM Energy in the 4th quarter valued at $182,061,000. Citadel Advisors LLC boosted its position in TXNM Energy by 19,952.4% in the 3rd quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after buying an additional 1,002,011 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of TXNM Energy by 83.1% in 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 buying an additional 800,258 shares during the period. Finally, Sona Asset Management US LLC increased its stake in shares of TXNM Energy by 79.8% in the 3rd quarter. Sona Asset Management US LLC now owns 1,663,830 shares of the company’s stock valued at $94,090,000 after buying an additional 738,631 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

TXNM has been the topic of several research reports. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.25.

TXNM Energy Trading Up 0.1%

Shares of NYSE TXNM opened at $58.34 on Friday. TXNM Energy, Inc. has a fifty-two week low of $55.64 and a fifty-two week high of $59.53. The firm has a market capitalization of $6.46 billion, a P/E ratio of 41.97, a P/E/G ratio of 2.51 and a beta of 0.17. 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 company’s 50 day simple moving average is $57.87 and its 200 day simple moving average is $58.59.

TXNM Energy (NYSE:TXNM) last released its 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 business had revenue of $504.98 million for 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%.TXNM Energy’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. On average, analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, August 3rd. TXNM Energy’s dividend payout ratio (DPR) is currently 121.58%.

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.