Norges Bank acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,092,063 shares of the company’s stock, valued at approximately $182,061,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC raised its position in TXNM Energy by 0.6% in the fourth quarter. Intech Investment Management LLC now owns 99,011 shares of the company’s stock valued at $5,830,000 after purchasing an additional 560 shares during the period. Geode Capital Management LLC raised its position in TXNM Energy by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock valued at $151,378,000 after purchasing an additional 161,141 shares during the period. Kestra Investment Management LLC raised its position in TXNM Energy by 9.0% in the fourth quarter. Kestra Investment Management LLC now owns 8,548 shares of the company’s stock valued at $503,000 after purchasing an additional 706 shares during the period. Themes Management Co LLC purchased a new position in TXNM Energy in the fourth quarter valued at about $203,000. Finally, Global Retirement Partners LLC raised its position in TXNM Energy by 26.6% in the fourth quarter. Global Retirement Partners LLC now owns 2,858 shares of the company’s stock valued at $168,000 after purchasing an additional 600 shares during the period. 91.68% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have commented on the company. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.25.
TXNM Energy Stock Down 0.3%
NYSE:TXNM opened at $59.08 on Thursday. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 42.50, a price-to-earnings-growth ratio of 2.55 and a beta of 0.16. TXNM Energy, Inc. has a one year low of $56.17 and a one year high of $59.53. The stock has a 50-day simple moving average of $59.06 and a 200 day simple moving average of $58.88. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55.
TXNM Energy (NYSE:TXNM – Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The firm had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.19 earnings per share. Sell-side analysts predict that TXNM Energy, Inc. will post 3.07 EPS for the current fiscal year.
TXNM Energy Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $1.145 dividend. This represents a $4.58 dividend on an annualized basis and a yield of 7.8%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, June 30th. TXNM Energy’s payout ratio is 121.58%.
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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.
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