Covalis Capital LLP Buys Shares of 323,378 TXNM Energy, Inc. (NYSE:TXNM)

Covalis Capital LLP bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 323,378 shares of the company's stock, valued at approximately $15,900,000. TXNM Energy accounts for 2.3% of Covalis Capital LLP's holdings, making the stock its 13th largest holding. Covalis Capital LLP owned about 0.36% of TXNM Energy at the end of the most recent reporting period.

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

TXNM Energy Trading Up 0.7 %

TXNM traded up $0.38 during mid-day trading on Thursday, hitting $53.82. 387,730 shares of the stock were exchanged, compared to its average volume of 1,084,850. The company has a market cap of $4.99 billion, a PE ratio of 28.03, a PEG ratio of 6.12 and a beta of 0.15. 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 firm's fifty day moving average is $52.00 and its two-hundred day moving average is $48.76. TXNM Energy, Inc. has a 1-year low of $35.35 and a 1-year high of $55.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. Equities analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal 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 given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is 61.05%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Barclays lifted their price objective 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. Scotiabank lifted 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. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Mizuho upgraded 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.