Resona Asset Management Co. Ltd. Buys Shares of 15,614 TXNM Energy, Inc. (NYSE:TXNM)

Resona Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 15,614 shares of the company's stock, valued at approximately $768,000.

A number of other hedge funds also recently modified their holdings of TXNM. Vanguard Group Inc. bought a new position in TXNM Energy during the fourth quarter worth $497,880,000. Alliancebernstein L.P. acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $123,764,000. Geode Capital Management LLC bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $105,148,000. Franklin Resources Inc. bought a new position in shares of TXNM Energy in the 4th quarter worth $79,524,000. Finally, Wellington Management Group LLP acquired a new stake in TXNM Energy in the 4th quarter valued at $64,046,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

TXNM has been the subject of several analyst reports. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays increased their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Mizuho raised shares of 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 target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Trading Up 0.4 %

Shares of TXNM stock traded up $0.24 during mid-day trading on Wednesday, reaching $53.02. The stock had a trading volume of 57,288 shares, compared to its average volume of 1,102,523. 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 firm has a market capitalization of $4.91 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a 52-week low of $35.35 and a 52-week high of $55.50. The stock's 50-day moving average price is $51.62 and its two-hundred day moving average price is $48.42.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $476.96 million during 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%. Equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's payout ratio is 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.