Gabelli Funds LLC Invests $32.27 Million in TXNM Energy, Inc. (NYSE:TXNM)

Gabelli Funds LLC acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 656,295 shares of the company's stock, valued at approximately $32,270,000. Gabelli Funds LLC owned 0.73% of TXNM Energy as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of TXNM. Bessemer Group Inc. bought a new position in shares of TXNM Energy during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in TXNM Energy during the fourth quarter worth about $38,000. Nomura Asset Management Co. Ltd. acquired a new position in TXNM Energy in the fourth quarter valued at about $48,000. CIBC Private Wealth Group LLC bought a new stake in shares of TXNM Energy in the fourth quarter worth about $83,000. Finally, Sterling Capital Management LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $157,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

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

TXNM Energy Stock Up 1.4 %

Shares of TXNM stock traded up $0.74 during trading on Friday, reaching $53.31. The company's stock had a trading volume of 934,280 shares, compared to its average volume of 865,553. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $55.50. The business has a fifty day moving average price of $51.84 and a 200-day moving average price of $48.61. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $476.96 million for the quarter, compared to analysts' expectations of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders 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 dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is 61.05%.

TXNM Energy Company 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.