Prudential Financial Inc. Buys New Holdings in TXNM Energy, Inc. (NYSE:TXNM)

Prudential Financial Inc. bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,014 shares of the company's stock, valued at approximately $417,000.

A number of other institutional investors also recently modified their holdings of TXNM. LPL Financial LLC bought a new position in shares of TXNM Energy in the fourth quarter worth about $470,000. Xponance Inc. bought a new position in TXNM Energy in the 4th quarter worth approximately $625,000. Corebridge Financial Inc. acquired a new position in TXNM Energy during the 4th quarter worth $7,189,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in TXNM Energy in the 4th quarter valued at $8,369,000. Finally, Sei Investments Co. acquired a new stake in shares of TXNM Energy in the 4th quarter valued at $9,270,000. Institutional investors own 91.68% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays lifted their price objective on TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Scotiabank raised their price objective 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. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Finally, Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a research note on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TXNM Energy currently has an average rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Stock Up 0.7 %

TXNM stock traded up $0.40 during midday trading on Tuesday, hitting $53.24. The company's stock had a trading volume of 97,342 shares, compared to its average volume of 1,107,885. The company's fifty day moving average price is $51.55 and its 200 day moving average price is $48.39. TXNM Energy, Inc. has a twelve month low of $35.35 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 market capitalization of $4.93 billion, a P/E ratio of 27.68, a PEG ratio of 6.12 and a beta of 0.15.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 return on equity of 9.69% and a net margin of 9.26%. As a group, equities research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.06%. TXNM Energy's dividend payout ratio is presently 61.05%.

About TXNM Energy

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.