AQR Capital Management LLC Makes New $8.17 Million Investment in TXNM Energy, Inc. (NYSE:TXNM)

AQR Capital Management LLC purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 166,136 shares of the company’s stock, valued at approximately $8,169,000. AQR Capital Management LLC owned 0.18% of TXNM Energy at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

TXNM has been the subject of several research reports. Scotiabank raised 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. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. 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 research note on Tuesday, March 11th. Finally, Barclays boosted their target price on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, TXNM Energy has an average rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Trading Up 0.4 %

TXNM opened at $52.78 on Wednesday. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $55.50. The stock has a market capitalization of $4.89 billion, a PE ratio of 27.49, a PEG ratio of 6.12 and a beta of 0.11. 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 firm has a 50-day moving average price of $52.31 and a two-hundred day moving average price of $49.41.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. As a group, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.09%. TXNM Energy’s dividend payout ratio is presently 61.05%.

TXNM Energy 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.