GABELLI & Co INVESTMENT ADVISERS INC. Acquires Shares of 20,999 TXNM Energy, Inc. (NYSE:TXNM)

GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 20,999 shares of the company's stock, valued at approximately $1,033,000.

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

TXNM Energy Trading Up 1.4 %

TXNM stock traded up $0.74 during midday trading on Friday, reaching $53.31. The stock had a trading volume of 934,280 shares, compared to its average volume of 865,553. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $55.50. The business has a fifty day simple moving average of $51.84 and a two-hundred day simple moving average of $48.58. 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 price-to-earnings ratio of 27.77, a PEG ratio of 6.12 and a beta of 0.15.

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, meeting analysts' consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. As a group, research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. 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 payout ratio is currently 61.05%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXNM. Barclays raised their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Scotiabank raised their target price on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Finally, 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.57.

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.