Brevan Howard Capital Management LP Takes Position in TXNM Energy, Inc. $TXNM

Brevan Howard Capital Management LP bought a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 58,359 shares of the company’s stock, valued at approximately $3,300,000. Brevan Howard Capital Management LP owned about 0.05% of TXNM Energy at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TXNM. Cape Investment Advisory Inc. purchased a new stake in TXNM Energy in the 2nd quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of TXNM Energy by 280.0% during the 3rd 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 lifted its holdings in shares of TXNM Energy by 574.0% during the 3rd 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. EverSource Wealth Advisors LLC boosted its position in shares of TXNM Energy by 215.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after acquiring an additional 1,043 shares during the last quarter. Finally, Salzhauer Michael acquired a new stake in shares of TXNM Energy in the third quarter worth approximately $127,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Performance

NYSE TXNM opened at $58.53 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.55 and a quick ratio of 0.38. TXNM Energy, Inc. has a 1-year low of $47.69 and a 1-year high of $59.52. The firm has a market capitalization of $6.37 billion, a P/E ratio of 40.09, a P/E/G ratio of 2.52 and a beta of 0.17. The business’s 50-day simple moving average is $59.05 and its 200-day simple moving average is $58.07.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.12). TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.The business had revenue of $533.23 million for the quarter, compared to analyst estimates of $593.29 million. During the same period last year, the company posted $0.30 EPS. Equities analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be given a $0.4225 dividend. The ex-dividend date of this dividend is Monday, April 27th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is presently 115.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TXNM. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $60.88.

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.