Loomis Sayles & Co. L P Takes $11.74 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

Loomis Sayles & Co. L P bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 238,800 shares of the company's stock, valued at approximately $11,742,000. Loomis Sayles & Co. L P owned 0.26% of TXNM Energy at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. purchased a new stake in shares of TXNM Energy in the 4th quarter valued at $417,000. LPL Financial LLC acquired a new stake in shares of TXNM Energy in the 4th quarter valued at $470,000. Xponance Inc. purchased a new stake in TXNM Energy during the 4th quarter worth about $625,000. Corebridge Financial Inc. purchased a new stake in TXNM Energy during the fourth quarter worth approximately $7,189,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of TXNM Energy during the 4th quarter worth approximately $8,369,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

TXNM has been the subject of several research reports. Barclays boosted their target price on TXNM Energy from $56.00 to $57.00 and gave the company 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 increased their price objective for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Citigroup raised their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, December 12th. Mizuho upgraded 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. Finally, 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 report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from 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 Price Performance

NYSE:TXNM traded up $0.04 during trading hours on Thursday, reaching $53.88. 130,341 shares of the company traded hands, compared to its average volume of 833,102. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $55.50. The stock has a market cap of $4.99 billion, a P/E ratio of 28.06, a P/E/G ratio of 6.12 and a beta of 0.32. The firm's 50-day moving average is $50.94 and its 200-day moving average is $47.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data 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 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 analyst estimates of $496.05 million. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share 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. Investors of record on Friday, April 25th will be given a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.03%. TXNM Energy's dividend 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.