Capricorn Fund Managers Ltd Buys 62,480 Shares of TXNM Energy, Inc. $TXNM

Capricorn Fund Managers Ltd lifted its stake in TXNM Energy, Inc. (NYSE:TXNM) by 70.6% in the 1st quarter, HoldingsChannel reports. The firm owned 151,009 shares of the company’s stock after buying an additional 62,480 shares during the quarter. TXNM Energy accounts for 1.4% of Capricorn Fund Managers Ltd’s portfolio, making the stock its 23rd biggest position. Capricorn Fund Managers Ltd’s holdings in TXNM Energy were worth $8,828,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of TXNM Energy during the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its holdings in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after buying an additional 236 shares during the period. Kestra Advisory Services LLC bought a new stake in TXNM Energy during the 4th quarter valued at approximately $74,000. Larson Financial Group LLC boosted its position in TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after acquiring an additional 623 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in TXNM Energy by 22.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock valued at $86,000 after acquiring an additional 268 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Down 0.2%

Shares of TXNM Energy stock opened at $56.81 on Wednesday. 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 has a 50-day moving average of $58.53 and a 200 day moving average of $58.79. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.45 and a beta of 0.16. TXNM Energy, Inc. has a 1 year low of $56.17 and a 1 year high of $59.53.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business had revenue of $504.98 million for the quarter, compared to the consensus estimate of $506.24 million. During the same period in the previous year, the firm earned $0.19 EPS. The company’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 annualized dividend and a dividend yield of 8.1%. TXNM Energy’s dividend payout ratio (DPR) is 121.58%.

Wall Street Analysts Forecast Growth

TXNM has been the subject of several research reports. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated 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, Based on data from MarketBeat, TXNM Energy presently has a consensus rating of “Hold” and an average price target of $61.25.

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.