TXNM Energy, Inc. $TXNM Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. decreased its position in TXNM Energy, Inc. (NYSE:TXNM) by 15.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,415,364 shares of the company’s stock after selling 626,937 shares during the quarter. Balyasny Asset Management L.P. owned 3.14% of TXNM Energy worth $201,097,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TXNM. Angelo Gordon & CO. L.P. acquired a new position in TXNM Energy during the 3rd quarter valued at approximately $5,694,000. Athos Capital Ltd acquired a new position in TXNM Energy during the 3rd quarter valued at approximately $8,078,000. Intech Investment Management LLC boosted its position in TXNM Energy by 56.7% during the 3rd quarter. Intech Investment Management LLC now owns 98,451 shares of the company’s stock valued at $5,567,000 after purchasing an additional 35,607 shares during the period. Gabelli Funds LLC boosted its position in TXNM Energy by 18.3% during the 3rd quarter. Gabelli Funds LLC now owns 855,464 shares of the company’s stock valued at $48,376,000 after purchasing an additional 132,491 shares during the period. Finally, Alpine Global Management LLC acquired a new position in TXNM Energy during the 3rd quarter valued at approximately $1,414,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Down 0.7%

TXNM opened at $56.49 on Thursday. TXNM Energy, Inc. has a one year low of $56.17 and a one year high of $59.53. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The stock’s fifty day moving average is $58.88 and its 200-day moving average is $58.86. The company has a market capitalization of $6.25 billion, a PE ratio of 40.64, a P/E/G ratio of 2.45 and a beta of 0.16.

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

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $1.145 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.1%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TXNM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, TXNM Energy has an average rating of “Hold” and a consensus target price 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.