Summit Investment Advisors Inc. Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Summit Investment Advisors Inc. acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 27,487 shares of the company's stock, valued at approximately $1,352,000.

Several other institutional investors have also modified their holdings of TXNM. Xponance Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter valued at about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in TXNM Energy in the fourth quarter valued at $8,369,000. Sei Investments Co. purchased a new stake in shares of TXNM Energy in the fourth quarter valued at about $9,270,000. LPL Financial LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $470,000. Finally, Vanguard Group Inc. purchased a new position in shares of TXNM Energy during the fourth quarter worth about $497,880,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TXNM. Scotiabank increased their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Mizuho upgraded 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, Barclays boosted their price target on shares of TXNM Energy from $56.00 to $57.00 and gave the stock 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 given a buy rating to the stock. According to MarketBeat.com, TXNM Energy currently has a consensus rating of "Moderate Buy" and an average price target of $53.57.

TXNM Energy Price Performance

TXNM Energy stock traded up $1.81 during midday trading on Tuesday, reaching $53.32. 638,908 shares of the company were exchanged, compared to its average volume of 866,496. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 6.12 and a beta of 0.15. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The firm's 50-day simple moving average is $51.93 and its 200-day simple moving average is $48.73. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. The firm had revenue of $476.96 million for 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%. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

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