36,640 Shares in TXNM Energy, Inc. (NYSE:TXNM) Purchased by First Manhattan CO. LLC.

First Manhattan CO. LLC. acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 36,640 shares of the company’s stock, valued at approximately $1,802,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Mizuho raised shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a research report on Tuesday, March 11th. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays upped their price target on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Finally, Scotiabank boosted their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.57.

TXNM Energy Stock Performance

Shares of TXNM opened at $52.89 on Friday. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $55.50. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. 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 stock’s 50-day simple moving average is $52.38 and its 200 day simple moving average is $49.60.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm’s revenue was up 10.5% on a year-over-year basis. Research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS 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 dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s payout ratio is 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.