California Public Employees Retirement System Makes New $19.64 Million Investment in TXNM Energy, Inc. (NYSE:TXNM)

California Public Employees Retirement System bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 399,519 shares of the company's stock, valued at approximately $19,644,000. California Public Employees Retirement System owned 0.44% of TXNM Energy at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. purchased a new position in shares of TXNM Energy in the 4th quarter worth about $48,000. Blair William & Co. IL acquired a new position in TXNM Energy during the fourth quarter valued at approximately $211,000. Prudential Financial Inc. purchased a new stake in TXNM Energy during the fourth quarter worth approximately $417,000. LPL Financial LLC purchased a new position in shares of TXNM Energy in the 4th quarter valued at $470,000. Finally, Pictet Asset Management Holding SA purchased a new position in TXNM Energy in the fourth quarter valued at about $484,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective for the company in a research report on Tuesday, March 11th. Citigroup lifted their target price on TXNM Energy from $45.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank upped their target price 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, Barclays raised their price target on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.57.

TXNM Energy Stock Performance

TXNM traded up $1.99 during trading hours on Wednesday, hitting $50.94. 2,273,493 shares of the stock were exchanged, compared to its average volume of 861,379. 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 12 month low of $39.60 and a 12 month high of $55.50. The stock has a 50-day simple moving average of $51.38 and a 200-day simple moving average of $48.18. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.30. The business had revenue of $476.96 million during 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%. Analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.20%. TXNM Energy's payout ratio is currently 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.