Cerity Partners LLC Takes $2.07 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

Cerity Partners LLC acquired a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 42,289 shares of the company's stock, valued at approximately $2,072,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in TXNM Energy in the fourth quarter valued at about $497,880,000. JPMorgan Chase & Co. acquired a new stake in shares of TXNM Energy during the fourth quarter worth approximately $31,972,000. Loomis Sayles & Co. L P bought a new stake in shares of TXNM Energy in the fourth quarter worth $11,742,000. Pictet Asset Management Holding SA acquired a new stake in TXNM Energy in the fourth quarter valued at $484,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in TXNM Energy during the 4th quarter valued at $748,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Performance

Shares of TXNM traded down $1.91 during mid-day trading on Monday, reaching $51.49. 1,260,004 shares of the company's stock traded hands, compared to its average volume of 867,773. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $55.50. The stock has a market capitalization of $4.77 billion, a P/E ratio of 26.82, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. The business's 50-day moving average price is $51.87 and its 200-day moving average price is $48.70. 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 (NYSE:TXNM - Get Free Report) last announced its quarterly 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. The company had revenue of $476.96 million during 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 analysts predict 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. Stockholders 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 dividend yield of 3.17%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio is currently 61.05%.

Wall Street Analysts Forecast Growth

TXNM has been the topic of several research analyst reports. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a research report on Tuesday, March 11th. Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank raised their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $53.57.

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.