58,311 Shares in TXNM Energy, Inc. (NYSE:TXNM) Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd acquired a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 58,311 shares of the company's stock, valued at approximately $2,867,000. Magellan Asset Management Ltd owned about 0.06% of TXNM Energy at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. bought a new stake in TXNM Energy during the 4th quarter worth approximately $497,880,000. Alliancebernstein L.P. bought a new position in shares of TXNM Energy during the fourth quarter worth $123,764,000. Geode Capital Management LLC acquired a new position in TXNM Energy in the fourth quarter valued at about $105,148,000. Franklin Resources Inc. bought a new stake in TXNM Energy during the 4th quarter worth approximately $79,524,000. Finally, Wellington Management Group LLP acquired a new stake in shares of TXNM Energy during the fourth quarter worth $64,046,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Trading Up 0.3 %

NYSE:TXNM traded up $0.15 during trading hours on Tuesday, reaching $49.93. The company's stock had a trading volume of 428,598 shares, compared to its average volume of 846,276. The firm has a 50-day simple moving average of $51.22 and a 200-day simple moving average of $48.06. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50. The firm has a market capitalization of $4.63 billion, a price-to-earnings ratio of 26.02, 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 (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. The business had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio is currently 61.05%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $51.00 to $54.00 in a research report on Tuesday, February 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 report on Monday, February 24th. Barclays lifted their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Finally, Citigroup raised their target price on shares of TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TXNM Energy 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.