Pentwater Capital Management LP Takes $368.36 Million Position in TXNM Energy, Inc. $TXNM

Pentwater Capital Management LP bought a new position in TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, according to its most recent filing with the SEC. The firm bought 6,487,500 shares of the company’s stock, valued at approximately $368,360,000. TXNM Energy makes up 2.3% of Pentwater Capital Management LP’s investment portfolio, making the stock its 9th largest position. Pentwater Capital Management LP owned 6.30% of TXNM Energy as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC acquired a new stake in shares of TXNM Energy during the first quarter worth about $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 worth $15,902,000 after acquiring an additional 32,776 shares during the period. M&T Bank Corp increased its stake in shares of TXNM Energy by 29.4% in the second quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock worth $353,000 after acquiring an additional 1,426 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of TXNM Energy by 215.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in TXNM Energy by 323.5% during the second quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock valued at $7,130,000 after purchasing an additional 96,708 shares during the period. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on TXNM. Weiss Ratings upgraded TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Stock Up 0.4%

TXNM opened at $57.52 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.44. TXNM Energy, Inc. has a twelve month low of $55.64 and a twelve month high of $59.53. The company has a market cap of $5.93 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.47 and a beta of 0.17. The company has a 50-day moving average price of $57.38 and a 200 day moving average price of $58.33.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The business had revenue of $548.55 million during the quarter, compared to analyst estimates of $567.00 million. Sell-side analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were paid a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is presently 93.37%.

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.