Renaissance Technologies LLC Invests $22.75 Million in TXNM Energy, Inc. (NYSE:TXNM)

Renaissance Technologies LLC purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 462,684 shares of the company's stock, valued at approximately $22,750,000. Renaissance Technologies LLC owned 0.51% of TXNM Energy as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in TXNM Energy in the fourth quarter valued at about $497,880,000. FMR LLC acquired a new stake in shares of TXNM Energy in the 4th quarter worth approximately $191,594,000. Alliancebernstein L.P. purchased a new position in TXNM Energy in the 4th quarter valued at approximately $123,764,000. Geode Capital Management LLC acquired a new position in TXNM Energy during the fourth quarter worth $105,148,000. Finally, Franklin Resources Inc. acquired a new stake in TXNM Energy in the fourth quarter valued at $79,524,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on TXNM shares. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Barclays upped 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. Mizuho raised 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 lifted their price target on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.57.

TXNM Energy Trading Up 1.4 %

TXNM stock traded up $0.74 during midday trading on Thursday, reaching $53.31. 934,280 shares of the company's stock traded hands, compared to its average volume of 865,553. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $57.00. The business has a 50-day moving average price of $51.69 and a two-hundred day moving average price of $48.45. The company has a market capitalization of $4.94 billion, a P/E ratio of 27.77, a PEG ratio of 6.12 and a beta of 0.15. 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 released its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company 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%. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

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 paid a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is 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.