656,295 Shares in TXNM Energy, Inc. (NYSE:TXNM) Bought by Gabelli Funds LLC

Gabelli Funds LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 656,295 shares of the company's stock, valued at approximately $32,270,000. Gabelli Funds LLC owned about 0.73% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. bought a new stake in TXNM Energy during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in TXNM Energy in the fourth quarter worth approximately $48,000. CIBC Private Wealth Group LLC bought a new position in TXNM Energy during the fourth quarter valued at approximately $83,000. Finally, Sterling Capital Management LLC purchased a new position in shares of TXNM Energy during the fourth quarter worth approximately $157,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TXNM has been the topic of several recent research reports. Scotiabank increased their target price 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 increased their target price on TXNM Energy from $56.00 to $57.00 and gave the company 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 raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Stock Up 1.4 %

NYSE TXNM traded up $0.74 during trading hours on Friday, reaching $53.31. 934,280 shares of the company's stock traded hands, compared to its average volume of 865,553. The firm has a market cap of $4.94 billion, a PE ratio of 27.77, a PEG ratio of 6.12 and a beta of 0.15. 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 52-week low of $39.60 and a 52-week high of $55.50. The firm has a 50-day simple moving average of $51.78 and a 200 day simple moving average of $48.51.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $476.96 million during the quarter, compared to analysts' expectations of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio is currently 61.05%.

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.