Gabelli Funds LLC Has $52.25 Million Stock Position in TXNM Energy, Inc. $TXNM

Gabelli Funds LLC grew its stake in TXNM Energy, Inc. (NYSE:TXNM) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 893,714 shares of the company’s stock after purchasing an additional 18,550 shares during the period. Gabelli Funds LLC’s holdings in TXNM Energy were worth $52,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TXNM. Los Angeles Capital Management LLC acquired a new stake in TXNM Energy in the 4th quarter valued at $27,000. Kestra Advisory Services LLC acquired a new position in TXNM Energy during the fourth quarter worth $74,000. Smartleaf Asset Management LLC raised its stake in TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after acquiring an additional 236 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of TXNM Energy by 81.8% during the third 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 during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of TXNM Energy by 22.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock valued at $86,000 after purchasing an additional 268 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of TXNM stock opened at $58.34 on Friday. The stock’s fifty day moving average is $57.87 and its 200-day moving average is $58.59. 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 has a market capitalization of $6.46 billion, a PE ratio of 41.97, a PEG ratio of 2.51 and a beta of 0.17. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53.

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

TXNM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Monday, August 3rd will be given a $0.4225 dividend. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, August 3rd. TXNM Energy’s dividend payout ratio (DPR) is presently 121.58%.

Wall Street Analysts Forecast Growth

TXNM has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $61.25.

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.