Kennedy Capital Management LLC Acquires 27,453 Shares of TXNM Energy, Inc. $TXNM

Kennedy Capital Management LLC increased its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 327,115 shares of the company’s stock after acquiring an additional 27,453 shares during the quarter. Kennedy Capital Management LLC owned about 0.30% of TXNM Energy worth $19,261,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TXNM. Los Angeles Capital Management LLC bought a new position in TXNM Energy during the fourth quarter worth about $27,000. Smartleaf Asset Management LLC increased its position in TXNM Energy by 280.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after acquiring an additional 756 shares during the period. Jones Financial Companies Lllp increased its position in TXNM Energy by 574.0% during the third quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock worth $73,000 after acquiring an additional 1,102 shares during the period. Kestra Advisory Services LLC bought a new position in TXNM Energy during the fourth quarter worth about $74,000. Finally, Larson Financial Group LLC increased its holdings in TXNM Energy by 81.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after buying an additional 623 shares during the period. 91.68% of the stock is owned by institutional investors.

TXNM Energy Trading Down 0.1%

TXNM opened at $57.08 on Friday. The company’s 50 day moving average is $59.00 and its 200-day moving average is $58.88. TXNM Energy, Inc. has a 1-year low of $56.17 and a 1-year high of $59.53. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The company has a market cap of $6.32 billion, a P/E ratio of 41.06, a PEG ratio of 2.46 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The company had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. Equities research analysts predict 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. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. This represents a $4.58 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s payout ratio is presently 121.58%.

Analysts Set New Price Targets

Several research firms have commented on TXNM. Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a report on Friday, May 29th. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $61.25.

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.