AlphaQuest LLC Invests $2.88 Million in TXNM Energy, Inc. $TXNM

AlphaQuest LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 50,927 shares of the company’s stock, valued at approximately $2,880,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in TXNM Energy during the 2nd quarter valued at about $99,354,000. LMR Partners LLP bought a new stake in shares of TXNM Energy during the second quarter valued at approximately $48,291,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of TXNM Energy by 83.1% in the second 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 purchasing an additional 800,258 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of TXNM Energy by 397.2% in the second quarter. Balyasny Asset Management L.P. now owns 908,507 shares of the company’s stock valued at $51,167,000 after purchasing an additional 725,794 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new position in TXNM Energy in the 2nd quarter worth approximately $28,160,000. Institutional investors own 91.68% of the company’s stock.

Insiders Place Their Bets

In related news, Director Vicky A. Bailey sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the completion of the transaction, the director owned 8,725 shares in the company, valued at approximately $503,781.50. The trade was a 17.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Citigroup started coverage on TXNM Energy in a report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, TXNM Energy presently has a consensus rating of “Hold” and an average price target of $58.42.

TXNM Energy Stock Down 0.5%

NYSE:TXNM opened at $58.93 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. TXNM Energy, Inc. has a 12-month low of $47.21 and a 12-month high of $59.47. The stock’s fifty day simple moving average is $58.80 and its 200-day simple moving average is $57.58. The firm has a market capitalization of $6.42 billion, a P/E ratio of 34.46, a P/E/G ratio of 2.53 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The company had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. During the same period in the previous year, the company posted $1.43 EPS. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.4225 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio is 95.32%.

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.