Fmr LLC Purchases New Shares in TXNM Energy, Inc. (NYSE:TXNM)

FMR LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,896,557 shares of the company's stock, valued at approximately $191,594,000. FMR LLC owned 4.32% of TXNM Energy at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in TXNM Energy during the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in TXNM Energy during the 4th quarter worth $48,000. CIBC Private Wealth Group LLC acquired a new stake in TXNM Energy in the 4th quarter valued at $83,000. Quadrant Capital Group LLC purchased a new position in TXNM Energy in the fourth quarter valued at about $210,000. Finally, Blair William & Co. IL purchased a new stake in shares of TXNM Energy in the fourth quarter worth about $211,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TXNM shares. Evercore ISI raised 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. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target for the company in a report on Tuesday, March 11th. Scotiabank upped their price objective 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. Finally, Barclays increased their price target on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TXNM Energy presently has an average rating of "Moderate Buy" and a consensus price target of $53.57.

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TXNM Energy Stock Performance

NYSE TXNM traded up $0.74 on Thursday, hitting $53.31. The stock had a trading volume of 934,280 shares, compared to its average volume of 865,553. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 6.12 and a beta of 0.15. 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 company's 50-day moving average is $51.69 and its two-hundred day moving average is $48.45. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $57.00.

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 analysts' consensus estimates of $0.30. The business 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%. On average, analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.06%. TXNM Energy's dividend payout ratio is currently 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.