Zimmer Partners LP Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Zimmer Partners LP acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,372,304 shares of the company’s stock, valued at approximately $165,816,000. TXNM Energy accounts for about 2.9% of Zimmer Partners LP’s portfolio, making the stock its 12th largest holding. Zimmer Partners LP owned about 3.74% of TXNM Energy as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. bought a new position in TXNM Energy in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in TXNM Energy in the 4th quarter worth $38,000. LRI Investments LLC bought a new position in TXNM Energy in the 4th quarter worth $40,000. Nomura Asset Management Co. Ltd. bought a new position in TXNM Energy in the 4th quarter worth $48,000. Finally, NewEdge Advisors LLC bought a new position in TXNM Energy in the 4th quarter worth $53,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Up 6.9%

Shares of NYSE TXNM opened at $56.51 on Tuesday. The firm’s 50-day moving average price is $52.88 and its 200-day moving average price is $50.07. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 6.12 and a beta of 0.11. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $57.29.

TXNM Energy (NYSE:TXNM) last announced its earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 9.26% and a return on equity of 9.69%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 25th were given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is currently 72.44%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotiabank upped their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Mizuho raised shares of 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. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Barclays increased their price objective 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.