Legal & General Group Plc bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 491,429 shares of the company's stock, valued at approximately $24,164,000. Legal & General Group Plc owned 0.54% of TXNM Energy as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in TXNM. Vanguard Group Inc. purchased a new position in shares of TXNM Energy during the 4th quarter valued at about $497,880,000. FMR LLC purchased a new position in TXNM Energy during the fourth quarter valued at approximately $191,594,000. Alliancebernstein L.P. purchased a new position in TXNM Energy during the fourth quarter valued at approximately $123,764,000. Geode Capital Management LLC bought a new position in shares of TXNM Energy in the fourth quarter worth approximately $105,148,000. Finally, Franklin Resources Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter worth $79,524,000. 91.68% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on TXNM shares. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective on the stock in a research report on Tuesday, March 11th. Scotiabank raised their target price on shares of 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, Barclays boosted their price target on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $53.57.
Check Out Our Latest Analysis on TXNM
TXNM Energy Trading Up 1.4 %
Shares of TXNM stock traded up $0.74 during trading hours on Thursday, reaching $53.31. 741,342 shares of the stock were exchanged, compared to its average volume of 1,102,297. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a 12-month low of $35.35 and a 12-month high of $55.50. The company's 50-day moving average price is $51.69 and its 200-day moving average price is $48.45. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.
TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.
TXNM Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is presently 61.05%.
About TXNM Energy
(
Free Report)
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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