TXNM Energy, Inc. $TXNM Shares Acquired by Gabelli Funds LLC

Gabelli Funds LLC grew its stake in TXNM Energy, Inc. (NYSE:TXNM) by 18.3% during the third quarter, Holdings Channel.com reports. The fund owned 855,464 shares of the company’s stock after acquiring an additional 132,491 shares during the period. Gabelli Funds LLC’s holdings in TXNM Energy were worth $48,376,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Empowered Funds LLC purchased a new position in shares of TXNM Energy during the 1st quarter worth approximately $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in TXNM Energy by 12.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock valued at $15,902,000 after purchasing an additional 32,776 shares during the period. State of Michigan Retirement System raised its position in TXNM Energy by 3.2% in the second quarter. State of Michigan Retirement System now owns 22,289 shares of the company’s stock valued at $1,255,000 after purchasing an additional 700 shares during the period. Bank of New York Mellon Corp lifted its stake in TXNM Energy by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 1,225,977 shares of the company’s stock worth $69,047,000 after purchasing an additional 32,959 shares in the last quarter. Finally, Huntington National Bank lifted its stake in TXNM Energy by 1,307.0% during the second quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after purchasing an additional 562 shares in the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.30.

TXNM Energy Trading Down 0.1%

Shares of TXNM stock opened at $58.91 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.36 and a current ratio of 0.55. The stock has a market capitalization of $6.42 billion, a P/E ratio of 40.35, a price-to-earnings-growth ratio of 2.52 and a beta of 0.17. The company has a 50 day moving average price of $59.08 and a 200 day moving average price of $57.96. TXNM Energy, Inc. has a fifty-two week low of $47.21 and a fifty-two week high of $59.52.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.12). The business had revenue of $533.23 million for the quarter, compared to analysts’ expectations of $593.29 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.During the same period in the previous year, the company earned $0.30 earnings per share. Equities research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be given a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is currently 115.75%.

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.