LPL Financial LLC Invests $470,000 in TXNM Energy, Inc. (NYSE:TXNM)

LPL Financial LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,550 shares of the company's stock, valued at approximately $470,000.

Several other large investors have also made changes to their positions in the company. Xponance Inc. acquired a new stake in TXNM Energy during the fourth quarter worth about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in TXNM Energy in the fourth quarter valued at approximately $8,369,000. Finally, Sei Investments Co. acquired a new position in TXNM Energy during the fourth quarter valued at approximately $9,270,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Performance

NYSE TXNM traded down $0.02 during trading hours on Thursday, reaching $53.18. The company's stock had a trading volume of 40,416 shares, compared to its average volume of 1,055,697. The stock has a market cap of $4.93 billion, a PE ratio of 27.72, a PEG ratio of 6.12 and a beta of 0.15. The business has a 50-day simple moving average of $52.22 and a 200 day simple moving average of $49.12. TXNM Energy, Inc. has a 52 week low of $35.56 and a 52 week high of $55.50. 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 (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Equities research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TXNM shares. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Barclays upped their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, March 18th. Scotiabank lifted their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Finally, Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and increased their target price for the company 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.