Wellington Management Group LLP Buys New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Wellington Management Group LLP acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,302,548 shares of the company's stock, valued at approximately $64,046,000. Wellington Management Group LLP owned 1.44% of TXNM Energy as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TXNM. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy in the 4th quarter worth $48,000. CIBC Private Wealth Group LLC purchased a new position in shares of TXNM Energy during the 4th quarter valued at about $83,000. Blair William & Co. IL purchased a new position in shares of TXNM Energy in the 4th quarter valued at about $211,000. Prudential Financial Inc. purchased a new position in shares of TXNM Energy in the 4th quarter valued at about $417,000. Finally, LPL Financial LLC purchased a new stake in TXNM Energy during the 4th quarter worth approximately $470,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXNM has been the topic of several recent research reports. Citigroup boosted their target price on TXNM Energy from $45.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th. Scotiabank boosted their target price on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a research report on Tuesday, March 11th. Barclays upped their price objective on TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Finally, Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and increased their target price for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.57.

TXNM Energy Stock Performance

Shares of TXNM traded down $0.77 during mid-day trading on Thursday, hitting $50.09. 95,340 shares of the company's stock were exchanged, compared to its average volume of 857,015. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $55.50. The firm has a market capitalization of $4.64 billion, a P/E ratio of 26.16, a P/E/G ratio of 6.12 and a beta of 0.15. The business's 50 day moving average is $51.38 and its two-hundred day moving average is $48.18. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

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, meeting analysts' consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $476.96 million during the quarter, compared to analysts' expectations of $496.05 million. On average, equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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 dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.25%. TXNM Energy's dividend payout ratio (DPR) is currently 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.