Magnetar Financial LLC Has $100.04 Million Position in TXNM Energy, Inc. $TXNM

Magnetar Financial LLC raised its position in TXNM Energy, Inc. (NYSE:TXNM) by 0.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,698,961 shares of the company’s stock after purchasing an additional 9,740 shares during the period. TXNM Energy accounts for approximately 1.0% of Magnetar Financial LLC’s portfolio, making the stock its 4th largest position. Magnetar Financial LLC owned 1.56% of TXNM Energy worth $100,035,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TXNM. Vanguard Group Inc. raised its stake in TXNM Energy by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock worth $700,631,000 after buying an additional 330,382 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after buying an additional 3,133,794 shares during the period. Norges Bank bought a new stake in TXNM Energy during the fourth quarter valued at $182,061,000. Geode Capital Management LLC grew its holdings in TXNM Energy by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock worth $151,378,000 after acquiring an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in TXNM Energy by 53.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock worth $113,704,000 after acquiring an additional 668,929 shares during the period. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXNM. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and an average price target of $61.25.

TXNM Energy Stock Down 0.3%

TXNM stock opened at $56.88 on Wednesday. The stock’s 50 day simple moving average is $58.92 and its 200 day simple moving average is $58.87. TXNM Energy, Inc. has a fifty-two week low of $56.17 and a fifty-two week 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 company has a market cap of $6.30 billion, a P/E ratio of 40.92, a price-to-earnings-growth ratio of 2.46 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last announced 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). The firm had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The company’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. On average, research analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

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

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.