299,090 Shares in TXNM Energy, Inc. $TXNM Acquired by Man Group plc

Man Group plc bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 299,090 shares of the company’s stock, valued at approximately $16,982,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. grew its stake in shares of 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 worth $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank acquired a new stake in shares of TXNM Energy in the fourth quarter valued at $182,061,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of TXNM Energy by 420.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock valued at $88,839,000 after acquiring an additional 1,227,627 shares in the last quarter. Citadel Advisors LLC boosted its holdings in TXNM Energy by 19,952.4% in the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after purchasing an additional 1,002,011 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in TXNM Energy in the second quarter valued at $50,713,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TXNM shares. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.25.

TXNM Energy Trading Up 0.0%

NYSE TXNM opened at $57.55 on Friday. TXNM Energy, Inc. has a 52 week low of $55.64 and a 52 week high of $59.53. The firm has a 50 day moving average of $57.39 and a two-hundred day moving average of $58.32. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $5.93 billion, a PE ratio of 31.79, a price-to-earnings-growth ratio of 2.48 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $548.55 million for 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%. As a group, research analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.

TXNM Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $0.4225 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is currently 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.