Sagefield Capital LP Invests $10.85 Million in TXNM Energy, Inc. (NYSE:TXNM)

Sagefield Capital LP bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 220,712 shares of the company’s stock, valued at approximately $10,852,000. TXNM Energy comprises approximately 1.2% of Sagefield Capital LP’s holdings, making the stock its 20th biggest holding. Sagefield Capital LP owned about 0.24% of TXNM Energy as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TXNM. Vanguard Group Inc. acquired a new position in TXNM Energy during the 4th quarter worth approximately $497,880,000. T. Rowe Price Investment Management Inc. acquired a new position in TXNM Energy during the 4th quarter worth approximately $303,744,000. FMR LLC acquired a new position in TXNM Energy during the 4th quarter worth approximately $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in TXNM Energy during the 4th quarter worth approximately $189,170,000. Finally, Alliancebernstein L.P. acquired a new position in TXNM Energy during the 4th quarter worth approximately $123,764,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TXNM shares. Scotiabank upped their price target on shares of TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Mizuho upgraded 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. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $51.00 to $54.00 in a research 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 stock an “overweight” rating in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, TXNM Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $52.80 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $56.50. The stock has a market cap of $4.89 billion, a P/E ratio of 27.50, a P/E/G ratio of 6.12 and a beta of 0.11. The company has a 50 day moving average of $52.77 and a 200 day moving average of $49.88.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company had revenue of $482.79 million during the quarter, compared to analysts’ expectations of $451.01 million. TXNM Energy’s revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were paid a $0.4075 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.09%. TXNM Energy’s dividend payout ratio is presently 72.44%.

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.