Alliancebernstein L.P. Acquires Shares of 2,517,062 TXNM Energy, Inc. (NYSE:TXNM)

Alliancebernstein L.P. purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,517,062 shares of the company's stock, valued at approximately $123,764,000. Alliancebernstein L.P. owned 2.79% of TXNM Energy as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP bought a new position in shares of TXNM Energy during the 4th quarter worth about $64,046,000. CIBC Private Wealth Group LLC acquired a new stake in TXNM Energy during the fourth quarter worth about $83,000. California Public Employees Retirement System bought a new position in TXNM Energy during the fourth quarter valued at about $19,644,000. Pictet Asset Management Holding SA acquired a new position in TXNM Energy in the 4th quarter valued at approximately $484,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in TXNM Energy in the 4th quarter valued at approximately $48,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXNM has been the topic of a number of research reports. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective on the stock in a research report on Tuesday, March 11th. Scotiabank boosted 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 increased their price objective 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. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Citigroup upped their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, TXNM Energy currently has an average rating of "Moderate Buy" and an average price target of $53.57.

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TXNM Energy Price Performance

Shares of TXNM Energy stock traded down $1.50 during mid-day trading on Monday, reaching $49.76. 1,927,322 shares of the stock were exchanged, compared to its average volume of 848,494. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 25.92, 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. The firm has a 50-day simple moving average of $51.22 and a 200 day simple moving average of $48.06. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $55.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. On average, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.28%. TXNM Energy's payout ratio is 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.