Greenland Capital Management LP Invests $492,000 in TXNM Energy, Inc. (NYSE:TXNM)

Greenland Capital Management LP acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the company's stock, valued at approximately $492,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of TXNM Energy during the 4th quarter worth $497,880,000. FMR LLC bought a new stake in shares of TXNM Energy in the fourth quarter worth about $191,594,000. Alliancebernstein L.P. purchased a new position in shares of TXNM Energy during the fourth quarter valued at approximately $123,764,000. Geode Capital Management LLC purchased a new position in TXNM Energy during the 4th quarter valued at $105,148,000. Finally, Franklin Resources Inc. bought a new position in TXNM Energy in the fourth quarter worth about $79,524,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

Shares of TXNM traded up $0.87 during trading hours on Monday, reaching $52.60. 320,861 shares of the stock traded hands, compared to its average volume of 1,109,222. The company's 50-day moving average price is $51.48 and its two-hundred day moving average price is $48.32. TXNM Energy, Inc. has a 52-week low of $35.35 and a 52-week high of $55.50. The company has a market cap of $4.87 billion, a P/E ratio of 27.40, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. 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 (NYSE:TXNM - Get Free Report) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company had revenue of $476.96 million for the quarter, compared to analysts' expectations of $496.05 million. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.10%. TXNM Energy's dividend payout ratio (DPR) is 61.05%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Scotiabank lifted 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. Evercore ISI raised 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 research report on Tuesday, February 11th. Finally, Barclays boosted their target price 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, TXNM Energy presently has a consensus 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.