Ameriprise Financial Inc. Acquires New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Ameriprise Financial Inc. bought a new position in TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,131,414 shares of the company’s stock, valued at approximately $55,632,000. Ameriprise Financial Inc. owned about 1.25% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in TXNM. Vanguard Group Inc. purchased a new position in shares of TXNM Energy during the 4th quarter valued at $497,880,000. Loomis Sayles & Co. L P bought a new position in shares of TXNM Energy in the 4th quarter valued at about $11,742,000. JPMorgan Chase & Co. purchased a new position in shares of TXNM Energy in the 4th quarter worth approximately $31,972,000. Pictet Asset Management Holding SA bought a new position in TXNM Energy during the fourth quarter valued at $484,000. Finally, Envestnet Asset Management Inc. bought a new position in TXNM Energy during the 4th quarter valued at about $5,093,000. 91.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $52.89 on Friday. The company has a market capitalization of $4.90 billion, a PE ratio of 27.55, a P/E/G ratio of 6.12 and a beta of 0.11. The company has a 50-day simple moving average of $52.38 and a two-hundred day simple moving average of $49.60. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $55.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 9th. The company reported $0.19 EPS 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 analysts’ expectations of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. TXNM Energy’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts expect 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 is Friday, April 25th. TXNM Energy’s dividend payout ratio is currently 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.