Franklin Resources Inc. Purchases New Position in TXNM Energy, Inc. (NYSE:TXNM)

Franklin Resources Inc. purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,617,331 shares of the company's stock, valued at approximately $79,524,000. Franklin Resources Inc. owned 1.79% of TXNM Energy as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy in the 4th quarter worth about $48,000. CIBC Private Wealth Group LLC bought a new stake in TXNM Energy during the fourth quarter worth about $83,000. Blair William & Co. IL acquired a new stake in shares of TXNM Energy during the fourth quarter worth approximately $211,000. Prudential Financial Inc. bought a new position in shares of TXNM Energy in the fourth quarter valued at approximately $417,000. Finally, LPL Financial LLC acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $470,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXNM has been the subject of a number of recent analyst reports. Citigroup raised their price target on TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Barclays raised 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. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a research report on Tuesday, March 11th. Scotiabank boosted their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Finally, 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 report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $53.57.

Remove Ads

TXNM Energy Trading Up 1.4 %

TXNM Energy stock traded up $0.70 during trading hours on Tuesday, reaching $50.48. 292,030 shares of the company's stock traded hands, compared to its average volume of 1,079,152. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 6.12 and a beta of 0.15. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. TXNM Energy, Inc. has a fifty-two week low of $35.35 and a fifty-two week high of $55.50. The firm's 50 day moving average is $51.22 and its 200-day moving average is $48.06.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings results 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 net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. On average, analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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 given 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 3.23%. TXNM Energy's dividend payout ratio is currently 61.05%.

TXNM Energy 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.