Bank of America Corp DE Acquires New Position in TXNM Energy, Inc. (NYSE:TXNM)

Bank of America Corp DE acquired a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,584,768 shares of the company's stock, valued at approximately $77,923,000. Bank of America Corp DE owned approximately 1.76% of TXNM Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TXNM. Bessemer Group Inc. bought a new stake in TXNM Energy in the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in TXNM Energy during the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. bought a new position in TXNM Energy in the fourth quarter worth approximately $48,000. NewEdge Advisors LLC acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $53,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $83,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays raised their price objective on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Scotiabank increased their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Finally, Mizuho upgraded 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 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 presently has an average rating of "Moderate Buy" and a consensus target price of $53.57.

TXNM Energy Stock Performance

Shares of NYSE:TXNM traded down $0.47 during midday trading on Friday, reaching $52.80. The company had a trading volume of 2,175,391 shares, compared to its average volume of 870,685. The stock has a market cap of $4.89 billion, a P/E ratio of 27.50, a P/E/G ratio of 6.12 and a beta of 0.11. The company's 50 day moving average price is $52.74 and its 200 day moving average price is $49.81. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $56.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last released 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). TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy's quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is 72.44%.

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.