MetLife Investment Management LLC Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

MetLife Investment Management LLC purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 103,560 shares of the company's stock, valued at approximately $5,092,000. MetLife Investment Management LLC owned approximately 0.11% of TXNM Energy at the end of the most recent reporting period.

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

TXNM Energy Trading Down 1.3 %

NYSE:TXNM traded down $0.71 during mid-day trading on Friday, reaching $52.99. 545,057 shares of the company's stock traded hands, compared to its average volume of 861,738. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-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 company has a 50 day moving average price of $52.12 and a 200-day moving average price of $48.90. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 27.60, 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, 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%. On average, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.08%. TXNM Energy's payout ratio is presently 61.05%.

Analyst Ratings Changes

TXNM has been the topic of a number of research reports. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank raised their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Mizuho upgraded 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. Finally, Barclays boosted their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Two investment 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $53.57.

TXNM Energy Company 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.