Glazer Capital LLC Purchases Shares of 323,587 TXNM Energy, Inc. $TXNM

Glazer Capital LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 323,587 shares of the company’s stock, valued at approximately $18,373,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TXNM. Empowered Funds LLC bought a new position in shares of TXNM Energy in the first quarter valued at approximately $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of TXNM Energy by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock valued at $15,902,000 after buying an additional 32,776 shares during the last quarter. M&T Bank Corp grew its holdings in TXNM Energy by 29.4% during the second quarter. M&T Bank Corp now owns 6,271 shares of the company’s stock worth $353,000 after buying an additional 1,426 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in TXNM Energy by 215.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock worth $86,000 after buying an additional 1,043 shares in the last quarter. Finally, Marshall Wace LLP raised its position in TXNM Energy by 323.5% in the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company’s stock valued at $7,130,000 after buying an additional 96,708 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

TXNM Energy Stock Performance

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 company has a 50-day simple moving average of $57.39 and a 200 day simple moving average of $58.32. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.39 and a current ratio of 0.56. The company 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 released its earnings results 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. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. The firm had revenue of $548.55 million for the quarter, compared to analysts’ expectations of $567.00 million. On average, research analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current 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 issued a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is 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.