CANADA LIFE ASSURANCE Co Invests $2.80 Million in TXNM Energy, Inc. (NYSE:TXNM)

CANADA LIFE ASSURANCE Co acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 56,811 shares of the company's stock, valued at approximately $2,795,000. CANADA LIFE ASSURANCE Co owned approximately 0.06% of TXNM Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in TXNM Energy during the 4th quarter valued at about $497,880,000. FMR LLC acquired a new position in TXNM Energy in the 4th quarter worth approximately $191,594,000. Alliancebernstein L.P. purchased a new position in TXNM Energy during the 4th quarter worth approximately $123,764,000. Geode Capital Management LLC acquired a new stake in TXNM Energy during the 4th quarter valued at approximately $105,148,000. Finally, Franklin Resources Inc. purchased a new stake in shares of TXNM Energy in the 4th quarter valued at $79,524,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

Shares of NYSE:TXNM traded up $0.00 during midday trading on Friday, reaching $53.02. 89,865 shares of the company's stock traded hands, compared to its average volume of 853,782. The company has a market cap of $4.91 billion, a P/E ratio of 27.54, a PEG ratio of 6.12 and a beta of 0.11. The company has a fifty day simple moving average of $52.23 and a two-hundred day simple moving average of $49.18. 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, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. Equities analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.07%. TXNM Energy's dividend payout ratio (DPR) is presently 61.05%.

Analyst Ratings Changes

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

About TXNM Energy

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.