Callodine Capital Management LP Buys Shares of 125,495 TXNM Energy, Inc. (NYSE:TXNM)

Callodine Capital Management LP acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 125,495 shares of the company's stock, valued at approximately $6,171,000. TXNM Energy comprises approximately 1.3% of Callodine Capital Management LP's portfolio, making the stock its 27th biggest position. Callodine Capital Management LP owned approximately 0.14% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TXNM. Bessemer Group Inc. purchased a new position in TXNM Energy during the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy in the fourth quarter worth about $38,000. Nomura Asset Management Co. Ltd. purchased a new position in TXNM Energy during the 4th quarter valued at about $48,000. NewEdge Advisors LLC bought a new stake in shares of TXNM Energy in the 4th quarter valued at about $53,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of TXNM Energy in the 4th quarter worth approximately $83,000. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Price Performance

TXNM traded down $0.04 during midday trading on Wednesday, hitting $53.30. 211,761 shares of the company traded hands, compared to its average volume of 862,922. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $55.50. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 6.12 and a beta of 0.15. The business has a 50 day simple moving average of $51.93 and a two-hundred day simple moving average of $48.73.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. On average, equities analysts forecast 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. Shareholders of record on Friday, April 25th will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.06%. TXNM Energy's payout ratio is 61.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Scotiabank increased their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Barclays lifted 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. Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a research report on Tuesday, March 11th. Finally, Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $53.57.

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.