Pictet Asset Management Holding SA Invests $484,000 in TXNM Energy, Inc. (NYSE:TXNM)

Pictet Asset Management Holding SA purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,853 shares of the company's stock, valued at approximately $484,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. bought a new stake in shares of TXNM Energy during the 4th quarter worth approximately $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of TXNM Energy in the fourth quarter valued at $8,369,000. Sei Investments Co. acquired a new position in TXNM Energy during the fourth quarter worth $9,270,000. LPL Financial LLC bought a new stake in TXNM Energy during the fourth quarter worth $470,000. Finally, Vanguard Group Inc. acquired a new stake in TXNM Energy in the fourth quarter valued at $497,880,000. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective on the stock in a research note on Tuesday, March 11th. Barclays boosted their price target on TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Scotiabank boosted their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, TXNM Energy currently has an average rating of "Moderate Buy" and a consensus target price of $53.57.

TXNM Energy Stock Performance

NYSE:TXNM traded up $0.40 during mid-day trading on Tuesday, hitting $53.24. 97,342 shares of the stock were exchanged, compared to its average volume of 1,107,885. The firm's 50-day simple moving average is $51.55 and its 200 day simple moving average is $48.39. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $55.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its earnings results on Friday, February 21st. The company reported $0.30 earnings per share 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 during the quarter, compared to the consensus estimate of $496.05 million. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.06%. TXNM Energy's dividend payout ratio is presently 61.05%.

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.