Envestnet Asset Management Inc. Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

Envestnet Asset Management Inc. 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 103,581 shares of the company's stock, valued at approximately $5,093,000. Envestnet Asset Management Inc. owned 0.11% of TXNM Energy at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. purchased a new position in TXNM Energy during the 4th quarter valued at $48,000. CIBC Private Wealth Group LLC purchased a new stake in shares of TXNM Energy during the fourth quarter valued at $83,000. Blair William & Co. IL bought a new position in shares of TXNM Energy in the fourth quarter worth about $211,000. Landscape Capital Management L.L.C. purchased a new position in TXNM Energy in the 4th quarter worth about $238,000. Finally, Thoroughbred Financial Services LLC purchased a new position in TXNM Energy in the 4th quarter worth about $251,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Stock Up 3.5 %

TXNM Energy stock opened at $53.32 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The firm has a market cap of $4.94 billion, a P/E ratio of 27.77, a P/E/G ratio of 6.12 and a beta of 0.15. The business has a fifty day moving average of $51.93 and a two-hundred day moving average of $48.73. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $55.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting analysts' consensus estimates 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 analysts' expectations of $496.05 million. On average, analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given 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 is Friday, April 25th. TXNM Energy's payout ratio is currently 61.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays increased their price objective on 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 for the company in a research report on Tuesday, March 11th. Finally, 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. 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 stock 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.

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