JPMorgan Chase & Co. Takes $31.97 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

JPMorgan Chase & Co. purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 650,235 shares of the company's stock, valued at approximately $31,972,000. JPMorgan Chase & Co. owned about 0.72% of TXNM Energy at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of TXNM Energy in the fourth quarter valued at about $497,880,000. Sei Investments Co. acquired a new stake in TXNM Energy in the 4th quarter worth about $9,270,000. Xponance Inc. acquired a new position in shares of TXNM Energy during the 4th quarter worth approximately $625,000. Corebridge Financial Inc. bought a new position in shares of TXNM Energy during the fourth quarter worth approximately $7,189,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $24,122,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. 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. Barclays increased their target price on 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 target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Finally, Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective for the company in a research report on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, TXNM Energy has a consensus rating of "Moderate Buy" and a consensus target price of $53.57.

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TXNM Energy Price Performance

NYSE:TXNM traded up $1.74 during trading hours on Friday, hitting $51.80. The company's stock had a trading volume of 1,499,175 shares, compared to its average volume of 865,561. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $55.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The stock has a fifty day simple moving average of $51.48 and a 200-day simple moving average of $48.29. The company has a market capitalization of $4.80 billion, a P/E ratio of 26.98, 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. The company had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.15%. TXNM Energy's payout ratio is presently 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.