Bridgewater Associates LP Acquires Shares of 328,454 TXNM Energy, Inc. (NYSE:TXNM)

Bridgewater Associates LP bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 328,454 shares of the company's stock, valued at approximately $16,150,000. Bridgewater Associates LP owned about 0.36% of TXNM Energy as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TXNM. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TXNM Energy in the fourth quarter worth $38,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of TXNM Energy during the fourth quarter valued at $48,000. CIBC Private Wealth Group LLC acquired a new position in TXNM Energy during the fourth quarter valued at $83,000. Finally, Sterling Capital Management LLC purchased a new stake in TXNM Energy in the 4th quarter worth about $157,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TXNM. 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. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Scotiabank increased their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Finally, Barclays increased their price target on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, TXNM Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Price Performance

Shares of TXNM stock traded down $0.60 during trading hours on Monday, hitting $52.80. 144,455 shares of the company's stock were exchanged, compared to its average volume of 861,550. The stock's 50-day moving average is $51.84 and its 200-day moving average is $48.64. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy, Inc. has a 52 week low of $39.60 and a 52 week high of $57.00.

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, hitting analysts' consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. As a group, research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Friday, April 25th. TXNM Energy's payout ratio is presently 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.