Yaupon Capital Management LP Invests $31.44 Million in TXNM Energy, Inc. (NYSE:TXNM)

Yaupon Capital Management LP purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 639,345 shares of the company's stock, valued at approximately $31,437,000. TXNM Energy accounts for approximately 1.3% of Yaupon Capital Management LP's portfolio, making the stock its 18th largest position. Yaupon Capital Management LP owned approximately 0.71% of TXNM Energy at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. bought a new position in shares of TXNM Energy during the fourth quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy during the 4th quarter valued at $48,000. NewEdge Advisors LLC purchased a new position in TXNM Energy during the fourth quarter valued at approximately $53,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of TXNM Energy during the fourth quarter worth about $83,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TXNM. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank increased their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Barclays increased 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. Finally, Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $53.57.

TXNM Energy Trading Up 0.5 %

NYSE:TXNM traded up $0.26 during mid-day trading on Thursday, reaching $53.70. The company's stock had a trading volume of 695,116 shares, compared to its average volume of 863,488. The company's fifty day simple moving average is $52.07 and its two-hundred day simple moving average is $48.84. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $55.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The stock has a market cap of $4.98 billion, a P/E ratio of 27.97, a P/E/G ratio of 6.12 and a beta of 0.15.

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, meeting analysts' consensus estimates of $0.30. The company 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%. On average, equities analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend 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.