Bank of Montreal Can Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Bank of Montreal Can bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 19,008 shares of the company's stock, valued at approximately $935,000.

Several other large investors also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd bought a new position in shares of TXNM Energy during the 4th quarter valued at $38,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy during the 4th quarter worth about $48,000. CIBC Private Wealth Group LLC acquired a new position in shares of TXNM Energy during the 4th quarter valued at about $83,000. Quadrant Capital Group LLC bought a new position in shares of TXNM Energy in the 4th quarter valued at approximately $210,000. Finally, Blair William & Co. IL acquired a new stake in TXNM Energy in the 4th quarter worth approximately $211,000. 91.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TXNM Energy Stock Performance

Shares of NYSE TXNM traded up $0.11 during mid-day trading on Thursday, hitting $53.55. The company had a trading volume of 252,716 shares, compared to its average volume of 861,078. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $55.58. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The firm has a market cap of $4.96 billion, a P/E ratio of 27.91, a PEG ratio of 6.12 and a beta of 0.15. The business's 50-day simple moving average is $52.00 and its 200-day simple moving average is $48.76.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced 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. The company had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. As a group, analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share 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. Stockholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's payout ratio is 61.05%.

TXNM Energy Company 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.