Polar Asset Management Partners Inc. Takes Position in TXNM Energy, Inc. $TXNM

Polar Asset Management Partners Inc. acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, HoldingsChannel reports. The institutional investor acquired 212,868 shares of the company’s stock, valued at approximately $12,087,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its stake in TXNM Energy by 4.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,787 shares of the company’s stock worth $221,000 after acquiring an additional 176 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of TXNM Energy by 17.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after purchasing an additional 184 shares during the period. Federated Hermes Inc. boosted its position in shares of TXNM Energy by 3.3% in the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock worth $356,000 after purchasing an additional 199 shares during the period. Bank of Montreal Can boosted its position in shares of TXNM Energy by 1.4% in the fourth quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock worth $931,000 after purchasing an additional 219 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of TXNM Energy by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,368 shares of the company’s stock worth $372,000 after purchasing an additional 223 shares in the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Trading Up 0.4%

Shares of TXNM opened at $57.32 on Wednesday. The company’s fifty day moving average is $57.35 and its 200 day moving average is $58.34. TXNM Energy, Inc. has a fifty-two week low of $55.64 and a fifty-two week high of $59.53. The stock has a market capitalization of $5.91 billion, a PE ratio of 31.67, a P/E/G ratio of 2.46 and a beta of 0.17. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings data on Friday, July 31st. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $548.55 million during the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. 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 declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $0.4225 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is currently 93.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TXNM. Wall Street Zen upgraded shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.