Thoroughbred Financial Services LLC Purchases New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Thoroughbred Financial Services LLC bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,118 shares of the company's stock, valued at approximately $251,000.

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

TXNM Energy Trading Up 3.5 %

Shares of TXNM Energy stock traded up $1.74 on Friday, reaching $51.80. 1,499,175 shares of the company's stock were exchanged, compared to its average volume of 865,561. The company has a market capitalization of $4.80 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a 52 week low of $39.60 and a 52 week high of $55.50. 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 moving average is $51.48 and its two-hundred day moving average is $48.29.

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

TXNM Energy Announces Dividend

The company 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 yield of 3.15%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's payout ratio is 61.05%.

Wall Street Analysts Forecast Growth

TXNM has been the topic of several recent research reports. Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Scotiabank lifted their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and upped their target price for the company from $51.00 to $54.00 in a report on Tuesday, February 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 report on Tuesday, March 18th. Finally, Citigroup upped their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Company 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.