Melqart Asset Management UK Ltd Takes Position in TXNM Energy, Inc. $TXNM

Melqart Asset Management UK Ltd purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 584,757 shares of the company’s stock, valued at approximately $33,068,000. TXNM Energy makes up about 4.4% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 5th largest position. Melqart Asset Management UK Ltd owned 0.54% of TXNM Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Comerica Bank increased its stake in TXNM Energy by 2.6% in the 3rd quarter. Comerica Bank now owns 48,499 shares of the company’s stock valued at $2,743,000 after buying an additional 1,247 shares during the last quarter. NINE MASTS CAPITAL Ltd boosted its stake in shares of TXNM Energy by 114.6% in the 3rd quarter. NINE MASTS CAPITAL Ltd now owns 42,000 shares of the company’s stock worth $2,375,000 after buying an additional 22,432 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of TXNM Energy by 244.8% in the 3rd quarter. Marshall Wace LLP now owns 436,462 shares of the company’s stock worth $24,682,000 after buying an additional 309,862 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in shares of TXNM Energy by 145.3% in the third quarter. Kennedy Capital Management LLC now owns 299,662 shares of the company’s stock valued at $16,946,000 after acquiring an additional 177,499 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of TXNM Energy by 74.1% in the third quarter. BNP Paribas Financial Markets now owns 26,653 shares of the company’s stock valued at $1,507,000 after acquiring an additional 11,345 shares in the last quarter. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.2%

TXNM opened at $58.85 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.55 and a debt-to-equity ratio of 1.48. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 2.51 and a beta of 0.17. TXNM Energy, Inc. has a twelve month low of $47.69 and a twelve month high of $59.52. The company’s 50-day moving average price is $59.06 and its two-hundred day moving average price is $58.03.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.12). The company had revenue of $533.23 million for the quarter, compared to analysts’ expectations of $593.29 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.During the same quarter in the previous year, the business earned $0.30 EPS. As a group, equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be given a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy’s dividend payout ratio (DPR) is currently 115.75%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, TXNM Energy has a consensus rating of “Hold” and a consensus price target of $60.88.

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.