Cohen & Steers Inc. Makes New $32.07 Million Investment in TXNM Energy, Inc. (NYSE:TXNM)

Cohen & Steers Inc. acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 652,276 shares of the company's stock, valued at approximately $32,072,000. Cohen & Steers Inc. owned about 0.72% of TXNM Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new position in shares of TXNM Energy in the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in TXNM Energy during the 4th quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy in the 4th quarter valued at $48,000. CIBC Private Wealth Group LLC acquired a new stake in shares of TXNM Energy in the fourth quarter worth $83,000. Finally, Sterling Capital Management LLC purchased a new position in shares of TXNM Energy during the fourth quarter worth $157,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Analyst Ratings Changes

TXNM has been the topic of several analyst reports. Scotiabank increased their price target 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. Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective on the stock in a report on Tuesday, March 11th. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Finally, Barclays raised their price target 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. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.57.

TXNM Energy Trading Up 1.4 %

NYSE TXNM traded up $0.74 on Friday, reaching $53.31. 934,280 shares of the company were exchanged, compared to its average volume of 865,553. The business's fifty day moving average price is $51.78 and its 200 day moving average price is $48.51. 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 stock has a market capitalization of $4.94 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. 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 earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting 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 net margin of 9.26% and a return on equity of 9.69%. Analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) 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.