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

Polar Asset Management Partners Inc. trimmed its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 39.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,719 shares of the company’s stock after selling 53,636 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in TXNM Energy were worth $4,719,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TXNM. Los Angeles Capital Management LLC purchased a new stake in TXNM Energy during the fourth quarter worth $27,000. Smartleaf Asset Management LLC grew its position in TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after buying an additional 236 shares during the period. Kestra Advisory Services LLC purchased a new position in TXNM Energy in the fourth quarter valued at $74,000. Larson Financial Group LLC increased its holdings in TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after buying an additional 623 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of TXNM Energy by 22.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after acquiring an additional 268 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

TXNM Energy stock opened at $58.34 on Monday. The company’s fifty day moving average price is $57.87 and its 200 day moving average price is $58.58. TXNM Energy, Inc. has a 1 year low of $55.64 and a 1 year high of $59.53. The stock has a market capitalization of $6.46 billion, a P/E ratio of 41.97, a P/E/G ratio of 2.52 and a beta of 0.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). The company had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.TXNM Energy’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. As a group, equities research analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s payout ratio is currently 121.58%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TXNM shares. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy currently has an average rating of “Hold” and a consensus target price of $61.25.

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.