TXNM Energy, Inc. $TXNM Position Decreased by Magnetar Financial LLC

Magnetar Financial LLC trimmed its position in TXNM Energy, Inc. (NYSE:TXNM) by 80.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,689,221 shares of the company’s stock after selling 6,960,861 shares during the period. TXNM Energy accounts for approximately 0.6% of Magnetar Financial LLC’s investment portfolio, making the stock its 7th biggest holding. Magnetar Financial LLC’s holdings in TXNM Energy were worth $95,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in TXNM Energy during the 2nd quarter worth approximately $99,354,000. Vanguard Group Inc. boosted its holdings in shares of TXNM Energy by 16.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock valued at $654,223,000 after acquiring an additional 1,598,954 shares during the last quarter. LMR Partners LLP purchased a new stake in shares of TXNM Energy in the 2nd quarter valued at $48,291,000. Adage Capital Partners GP L.L.C. increased its stake 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 worth $99,279,000 after acquiring an additional 800,258 shares during the period. Finally, Balyasny Asset Management L.P. increased its stake 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 worth $51,167,000 after acquiring an additional 725,794 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Trading Up 0.0%

TXNM Energy stock opened at $58.85 on Wednesday. The firm has a market cap of $6.41 billion, a PE ratio of 40.30, a P/E/G ratio of 2.52 and a beta of 0.17. TXNM Energy, Inc. has a 12 month low of $47.69 and a 12 month high of $59.52. The stock’s 50 day simple moving average is $59.08 and its two-hundred day simple moving average is $58.01. The company has a current ratio of 0.55, a quick ratio of 0.38 and a debt-to-equity ratio of 1.48.

TXNM Energy (NYSE:TXNM) last posted 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). TXNM Energy had a net margin of 7.27% and a return on equity of 7.54%. The firm had revenue of $533.23 million for the quarter, compared to analysts’ expectations of $593.29 million. During the same period last year, the firm earned $0.30 earnings per share. Analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently issued reports on TXNM. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.88.

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.