T. Rowe Price Investment Management Inc. Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

T. Rowe Price Investment Management Inc. acquired a new stake in shares of 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 acquired 6,177,409 shares of the company's stock, valued at approximately $303,744,000. T. Rowe Price Investment Management Inc. owned about 6.85% of TXNM Energy at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TXNM. Xponance Inc. bought a new position in TXNM Energy in the 4th quarter valued at approximately $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of TXNM Energy during the fourth quarter valued at $8,369,000. Sei Investments Co. bought a new stake in TXNM Energy in the 4th quarter worth about $9,270,000. LPL Financial LLC purchased a new position in TXNM Energy in the 4th quarter worth about $470,000. Finally, Vanguard Group Inc. bought a new position in TXNM Energy during the 4th quarter valued at about $497,880,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on TXNM shares. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target for the company in a research report on Tuesday, March 11th. Scotiabank upped 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. 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. Finally, Evercore ISI raised 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 report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Stock Down 1.3 %

Shares of TXNM stock traded down $0.71 on Friday, reaching $52.99. 545,057 shares of the stock were exchanged, compared to its average volume of 861,738. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $55.50. 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 company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 6.12 and a beta of 0.15. The business's 50 day moving average price is $52.12 and its 200 day moving average price is $48.95.

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 analysts' consensus estimates of $0.30. The business had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business 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 $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) 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.