Centiva Capital LP has strengthened its investment in TXNM Energy, Inc. (NYSE: TXNM) by increasing its shareholdings by 6.5% during the third quarter of 2023. This information comes from Centiva’s latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor now owns 225,000 shares after acquiring an additional 13,780 shares during this period. TXNM Energy represents approximately 0.1% of Centiva’s total investment portfolio, ranking as its 23rd largest holding.
As of the end of the reporting period, Centiva’s holdings in TXNM Energy were valued at approximately $12,724,000. Several other institutional investors have also adjusted their stakes in TXNM Energy. Notably, Principal Financial Group Inc. increased its position by 55.4%, now holding 330,336 shares valued at $18,681,000 after acquiring an additional 117,765 shares. Additionally, AlphaQuest LLC entered a new position valued at around $2,880,000, while Athos Capital Ltd. purchased shares worth approximately $8,078,000. Truist Financial Corp and GABELLI & Co INVESTMENT ADVISERS INC. also established new positions, valued at about $4,378,000 and $6,974,000, respectively.
The majority of TXNM Energy’s stock, about 91.68%, is currently owned by institutional investors and hedge funds.
Stock Performance and Financial Metrics
On Friday, shares of TXNM opened at $58.85, reflecting a 0.2% increase. The company’s financial metrics reveal a quick ratio of 0.38, a current ratio of 0.55, and a debt-to-equity ratio of 1.48. Over the past year, the stock has seen a low of $47.69 and a high of $59.52. With a market capitalization of $6.41 billion, TXNM Energy has a price-to-earnings ratio of 40.31 and a price-to-earnings growth (P/E/G) ratio of 2.52. The stock’s beta stands at 0.17, indicating lower volatility compared to the market.
Dividend Announcement
TXNM Energy has also announced a quarterly dividend of $0.4225, set to be paid on May 15, 2024. Shareholders on record as of April 27, 2024, will receive this dividend, which translates to an annualized dividend of $1.69 and a yield of 2.9%. Notably, the dividend payout ratio (DPR) is currently at 115.75%.
Analyst Ratings and Market Outlook
Recent analysis from various sources has provided insights into TXNM Energy’s stock performance. Weiss Ratings has reaffirmed a “hold (C+)” rating, while Wall Street Zen has elevated its rating from “sell” to “hold.” Of the analysts covering the stock, one has issued a Buy rating, while six others recommend a Hold. According to data from MarketBeat.com, the consensus rating stands at “Hold” with an average price target of $60.88.
TXNM Energy, Inc., through its subsidiaries, engages in providing electricity and electric services across the United States, operating primarily through the Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). The PNM segment is involved in the generation, transmission, and distribution of electricity, utilizing a diverse range of energy sources including coal, natural gas, oil, nuclear, solar, wind, geothermal, and battery storage.
For those interested in further details regarding TXNM Energy’s performance and holdings, additional insights are available through financial news outlets and investment analysis platforms.
