Baird Financial Group Inc. Invests $236,000 in TXNM Energy, Inc. (NYSE:TXNM)

Baird Financial Group Inc. bought a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 4,808 shares of the company's stock, valued at approximately $236,000.

A number of other large investors have also recently modified their holdings of TXNM. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy in the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy during the fourth quarter worth about $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in TXNM Energy in the fourth quarter worth about $48,000. NewEdge Advisors LLC bought a new position in shares of TXNM Energy during the fourth quarter valued at approximately $53,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of TXNM Energy during the fourth quarter valued at approximately $83,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Stock Performance

TXNM traded down $0.15 during midday trading on Tuesday, hitting $56.42. 5,892,374 shares of the company traded hands, compared to its average volume of 936,745. The company's 50-day moving average is $52.88 and its 200 day moving average is $50.07. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $5.23 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. TXNM Energy, Inc. has a 52 week low of $39.60 and a 52 week high of $57.29.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data 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. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.89%. TXNM Energy's dividend payout ratio (DPR) is currently 72.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays raised their price objective on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Scotiabank raised their price target on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday. Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target for the company in a research report on Tuesday, March 11th. Finally, Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $54.29.

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.