AQR Capital Management LLC Acquires New Holdings in TXNM Energy, Inc. (NYSE:TXNM)

AQR Capital Management LLC bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 166,136 shares of the company’s stock, valued at approximately $8,169,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new position in TXNM Energy in the 4th quarter worth $497,880,000. Loomis Sayles & Co. L P bought a new position in shares of TXNM Energy during the 4th quarter worth approximately $11,742,000. JPMorgan Chase & Co. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $31,972,000. Pictet Asset Management Holding SA bought a new stake in shares of TXNM Energy in the fourth quarter worth $484,000. Finally, Envestnet Asset Management Inc. acquired a new position in TXNM Energy during the fourth quarter worth $5,093,000. Institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TXNM Energy Price Performance

NYSE:TXNM opened at $52.78 on Wednesday. The company has a market cap of $4.89 billion, a P/E ratio of 27.49, a P/E/G ratio of 6.12 and a beta of 0.11. The firm’s fifty day moving average price is $52.31 and its two-hundred day moving average price is $49.41. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $55.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. Equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.09%. TXNM Energy’s dividend payout ratio is 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.