Wells Fargo & Company MN Invests $4.54 Million in TXNM Energy, Inc. (NYSE:TXNM)

Wells Fargo & Company MN purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 92,268 shares of the company's stock, valued at approximately $4,537,000. Wells Fargo & Company MN owned approximately 0.10% of TXNM Energy at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TXNM shares. Scotiabank lifted their price target on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Barclays raised their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Mizuho raised shares of 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. Finally, Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and raised their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $53.57.

TXNM Energy Price Performance

Shares of NYSE TXNM traded up $0.19 during mid-day trading on Wednesday, reaching $53.53. 493,302 shares of the company were exchanged, compared to its average volume of 864,423. The stock has a market capitalization of $4.96 billion, a PE ratio of 27.88, a PEG ratio of 6.12 and a beta of 0.15. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 52 week low of $39.60 and a 52 week high of $55.50. The company's 50 day moving average price is $51.93 and its 200 day moving average price is $48.73.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting the consensus estimate 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 return on equity of 9.69% and a net margin of 9.26%. Sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

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 $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, April 25th. TXNM Energy's payout ratio is presently 61.05%.

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.