Shapiro Capital Management LLC Buys New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Shapiro Capital Management LLC bought a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 218,210 shares of the company’s stock, valued at approximately $10,729,000. Shapiro Capital Management LLC owned approximately 0.24% of TXNM Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. purchased a new position in shares of TXNM Energy in the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd acquired a new position in TXNM Energy during the 4th quarter valued at approximately $38,000. LRI Investments LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth $40,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy during the fourth quarter valued at $48,000. Finally, NewEdge Advisors LLC acquired a new position in shares of TXNM Energy in the 4th quarter valued at $53,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.4%

Shares of TXNM opened at $53.30 on Friday. The stock has a 50 day moving average price of $52.74 and a 200 day moving average price of $49.81. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $56.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) 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 analysts’ expectations of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is 72.44%.

Analysts Set New Price Targets

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

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.