Alpine Associates Management Inc. Acquires 168,708 Shares of TXNM Energy, Inc. $TXNM

Alpine Associates Management Inc. raised its position in TXNM Energy, Inc. (NYSE:TXNM) by 86.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 363,508 shares of the company’s stock after buying an additional 168,708 shares during the period. TXNM Energy accounts for 1.2% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Alpine Associates Management Inc. owned 0.33% of TXNM Energy worth $20,556,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC purchased a new stake in shares of TXNM Energy in the first quarter worth $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of TXNM Energy by 12.4% during the 1st 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 in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of TXNM Energy by 13.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,920 shares of the company’s stock worth $615,000 after purchasing an additional 1,312 shares in the last quarter. New York State Teachers Retirement System increased its stake in TXNM Energy by 0.3% during the 2nd quarter. New York State Teachers Retirement System now owns 87,839 shares of the company’s stock valued at $4,947,000 after purchasing an additional 300 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its holdings in TXNM Energy by 7.7% in the second quarter. Spirit of America Management Corp NY now owns 5,600 shares of the company’s stock worth $315,000 after purchasing an additional 400 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

TXNM Energy Stock Up 0.3%

Shares of NYSE TXNM opened at $59.33 on Thursday. The company has a 50-day moving average of $58.92 and a 200 day moving average of $57.70. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. The stock has a market cap of $6.46 billion, a PE ratio of 34.69, a P/E/G ratio of 2.53 and a beta of 0.16. TXNM Energy, Inc. has a 12-month low of $47.21 and a 12-month high of $59.47.

TXNM Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be paid a dividend of $0.4225 per share. The ex-dividend date is Friday, January 30th. This represents a $1.69 dividend on an annualized basis and a yield of 2.8%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio (DPR) is currently 98.83%.

Insider Activity at TXNM Energy

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the sale, the director directly owned 8,725 shares in the company, valued at approximately $503,781.50. The trade was a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Finally, Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.30.

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.