SIR Capital Management L.P. Acquires New Position in TXNM Energy, Inc. (NYSE:TXNM)

SIR Capital Management L.P. acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 349,221 shares of the company’s stock, valued at approximately $17,171,000. TXNM Energy comprises 1.8% of SIR Capital Management L.P.’s portfolio, making the stock its 19th biggest position. SIR Capital Management L.P. owned 0.39% of TXNM Energy at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TXNM. Resolution Capital Ltd bought a new position in shares of TXNM Energy in the fourth quarter worth approximately $6,113,000. Point72 Asset Management L.P. bought a new position in TXNM Energy during the 4th quarter valued at approximately $84,090,000. ProShare Advisors LLC purchased a new stake in TXNM Energy in the 4th quarter worth approximately $9,119,000. Quantinno Capital Management LP bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $300,000. Finally, Nomura Holdings Inc. purchased a new stake in TXNM Energy in the fourth quarter worth $587,000. Institutional investors own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

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

TXNM Energy Price Performance

NYSE TXNM opened at $53.30 on Friday. 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, Inc. has a 1-year low of $39.60 and a 1-year high of $56.50. 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. The business’s fifty day moving average price is $52.74 and its 200-day moving average price is $49.81.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. The company’s revenue was up 10.5% on a year-over-year basis. On average, equities analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s dividend payout ratio is presently 72.44%.

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.