Cohen & Steers Inc. Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Cohen & Steers Inc. acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 652,276 shares of the company's stock, valued at approximately $32,072,000. Cohen & Steers Inc. owned approximately 0.72% of TXNM Energy as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TXNM. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 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 research report on Tuesday, March 18th. Scotiabank upped their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a report on Monday, February 24th. Finally, Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective on the stock in a research report on Tuesday, March 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $53.57.

TXNM Energy Price Performance

Shares of NYSE TXNM traded up $0.74 during midday trading on Friday, hitting $53.31. The company had a trading volume of 934,280 shares, compared to its average volume of 865,553. The firm has a market capitalization 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. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $55.50. The business has a 50-day simple moving average of $51.84 and a two-hundred day simple moving average of $48.58. 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 posted its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $496.05 million. Equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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 paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio is currently 61.05%.

TXNM Energy 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.