Federated Hermes Inc. Acquires New Position in TXNM Energy, Inc. (NYSE:TXNM)

Federated Hermes Inc. acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,830 shares of the company's stock, valued at approximately $287,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy in the 4th quarter worth $497,880,000. Loomis Sayles & Co. L P purchased a new stake in TXNM Energy in the fourth quarter worth about $11,742,000. JPMorgan Chase & Co. purchased a new position in shares of TXNM Energy during the 4th quarter valued at about $31,972,000. Pictet Asset Management Holding SA bought a new position in shares of TXNM Energy during the 4th quarter valued at approximately $484,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of TXNM Energy during the 4th quarter valued at approximately $748,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

Shares of NYSE:TXNM traded up $0.78 during mid-day trading on Wednesday, reaching $54.12. The stock had a trading volume of 96,825 shares, compared to its average volume of 1,089,300. The business's 50 day moving average price is $51.93 and its 200 day moving average price is $48.73. TXNM Energy, Inc. has a 1 year low of $35.35 and a 1 year high of $55.50. The company has a market cap of $5.01 billion, a P/E ratio of 28.19, 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 earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting analysts' consensus estimates of $0.30. The firm had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's payout ratio is 61.05%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TXNM. Scotiabank lifted their price target on shares of TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Barclays upped their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Mizuho upgraded 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.57.

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.