Ameriprise Financial Inc. Buys New Shares in TXNM Energy, Inc. (NYSE:TXNM)

Ameriprise Financial Inc. purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,131,414 shares of the company’s stock, valued at approximately $55,632,000.

A number of other hedge funds have also modified their holdings of the company. Bessemer Group Inc. acquired a new position in TXNM Energy in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TXNM Energy in the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of TXNM Energy during the fourth quarter worth $48,000. NewEdge Advisors LLC acquired a new position in TXNM Energy during the fourth quarter valued at $53,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in TXNM Energy in the fourth quarter valued at $83,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

TXNM Energy Stock Performance

Shares of NYSE:TXNM opened at $52.89 on Friday. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 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. The business’s 50 day moving average price is $52.38 and its 200-day moving average price is $49.60. The firm has a market capitalization of $4.90 billion, a PE ratio of 27.55, a P/E/G ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business’s revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.08%. TXNM Energy’s dividend payout ratio is presently 61.05%.

About TXNM Energy

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.