Corebridge Financial Inc. Invests $7.19 Million in TXNM Energy, Inc. (NYSE:TXNM)

Corebridge Financial Inc. bought a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 146,204 shares of the company's stock, valued at approximately $7,189,000. Corebridge Financial Inc. owned about 0.16% of TXNM Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LPL Financial LLC bought a new position in shares of TXNM Energy during the fourth quarter worth about $470,000. Xponance Inc. bought a new position in TXNM Energy in the 4th quarter worth about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $8,369,000. Sei Investments Co. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $9,270,000. Finally, Vanguard Group Inc. bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $497,880,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Trading Up 0.8 %

TXNM Energy stock traded up $0.41 during midday trading on Wednesday, reaching $53.92. The stock had a trading volume of 325,518 shares, compared to its average volume of 1,063,857. TXNM Energy, Inc. has a twelve month low of $35.35 and a twelve month high of $55.50. 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 $5.00 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 6.12 and a beta of 0.32. The firm's fifty day simple moving average is $50.81 and its two-hundred day simple moving average is $47.80.

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TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. The firm 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%. Equities analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 3.02%. TXNM Energy's payout ratio is 61.05%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TXNM shares. Barclays lifted their target price on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Citigroup lifted their price objective 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. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price for the company in a research report on Tuesday, March 11th. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Scotiabank increased their price objective 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $53.57.

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.