6,556 Shares in TXNM Energy, Inc. (NYSE:TXNM) Bought by Freestone Grove Partners LP

Freestone Grove Partners LP purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,556 shares of the company’s stock, valued at approximately $322,000.

Several other large investors have also made changes to their positions in TXNM. Vanguard Group Inc. bought a new stake in TXNM Energy during the 4th quarter valued at approximately $497,880,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $303,744,000. FMR LLC bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of TXNM Energy in the fourth quarter worth $189,170,000. Finally, Alliancebernstein L.P. bought a new position in shares of TXNM Energy during the fourth quarter worth $123,764,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on TXNM shares. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Barclays increased their price target on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Scotiabank lifted their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.57.

TXNM Energy Stock Performance

NYSE TXNM opened at $53.57 on Monday. The business’s 50 day moving average price is $52.26 and its 200-day moving average price is $49.33. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $55.50. The company has a market cap of $4.96 billion, a P/E ratio of 27.90, a P/E/G ratio of 6.12 and a beta of 0.11. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $476.96 million for the quarter, compared to analysts’ expectations of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Sell-side analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, April 25th. TXNM Energy’s payout ratio is currently 61.05%.

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.