Angelo Gordon & CO. L.P. Invests $5.69 Million in TXNM Energy, Inc. $TXNM

Angelo Gordon & CO. L.P. bought a new position in TXNM Energy, Inc. (NYSE:TXNM) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 100,697 shares of the company’s stock, valued at approximately $5,694,000. Angelo Gordon & CO. L.P. owned 0.09% of TXNM Energy as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Cape Investment Advisory Inc. bought a new position in shares of TXNM Energy in the second quarter worth about $28,000. Smartleaf Asset Management LLC lifted its position in shares of TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after buying an additional 756 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of TXNM Energy by 574.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after acquiring an additional 1,102 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of TXNM Energy by 215.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company’s stock valued at $86,000 after acquiring an additional 1,043 shares during the period. Finally, Salzhauer Michael purchased a new stake in TXNM Energy in the 3rd quarter worth approximately $127,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

TXNM Energy Stock Performance

TXNM Energy stock opened at $58.85 on Friday. The company’s 50-day moving average price is $59.06 and its 200-day moving average price is $58.04. 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 company has a market cap of $6.41 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 2.52 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.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.12). The business had revenue of $533.23 million during the quarter, compared to the consensus estimate of $593.29 million. TXNM Energy had a net margin of 7.27% and a return on equity of 7.54%. During the same period in the previous year, the business posted $0.30 EPS. On average, equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

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

TXNM Energy Company 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.