Quinn Opportunity Partners LLC Acquires Shares of 19,950 TXNM Energy, Inc. (NYSE:TXNM)

Quinn Opportunity Partners LLC purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,950 shares of the company's stock, valued at approximately $981,000.

Other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in TXNM Energy in the 4th quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy during the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. acquired a new position in TXNM Energy during the fourth quarter worth $48,000. CIBC Private Wealth Group LLC bought a new stake in TXNM Energy during the fourth quarter worth $83,000. Finally, Quadrant Capital Group LLC bought a new position in TXNM Energy during the fourth quarter worth about $210,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Trading Up 2.4 %

TXNM stock traded up $1.25 during midday trading on Thursday, hitting $53.82. The stock had a trading volume of 361,409 shares, compared to its average volume of 862,711. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The business has a fifty day moving average price of $51.69 and a two-hundred day moving average price of $48.45. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $57.00. The firm has a market cap of $4.99 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting analysts' consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. On average, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors 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 dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's payout ratio is currently 61.05%.

Analyst Upgrades and Downgrades

TXNM has been the topic of a number of recent analyst reports. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price for the company in a research report on Tuesday, March 11th. Barclays raised their price target on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Finally, Scotiabank boosted their price objective on shares of TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Two investment 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.57.

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.