Adage Capital Partners GP L.L.C. Acquires New Position in TXNM Energy, Inc. (NYSE:TXNM)

Adage Capital Partners GP L.L.C. acquired a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 787,500 shares of the company's stock, valued at approximately $38,721,000. Adage Capital Partners GP L.L.C. owned 0.87% of TXNM Energy at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of TXNM Energy during the fourth quarter worth about $189,170,000. T. Rowe Price Investment Management Inc. bought a new position in TXNM Energy during the 4th quarter valued at approximately $303,744,000. Price T Rowe Associates Inc. MD bought a new position in TXNM Energy during the 4th quarter valued at approximately $3,078,000. Yaupon Capital Management LP bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $31,437,000. Finally, Susquehanna International Group LLP purchased a new position in shares of TXNM Energy during the fourth quarter valued at approximately $2,877,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.9 %

Shares of TXNM Energy stock traded up $0.48 during trading on Monday, reaching $53.45. The company's stock had a trading volume of 373,105 shares, compared to its average volume of 859,068. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $55.50. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The company has a market cap of $4.95 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 6.12 and a beta of 0.15. The company has a 50-day simple moving average of $52.12 and a two-hundred day simple moving average of $48.98.

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

TXNM Energy Announces Dividend

The firm 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 3.05%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is presently 61.05%.

Analyst Ratings Changes

TXNM has been the subject of several research reports. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Barclays upped their price target on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Scotiabank upped their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Finally, Mizuho raised 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. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, TXNM Energy has an average rating of "Moderate Buy" and an average 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.