Crestline Management LP Purchases New Position in TXNM Energy, Inc. (NYSE:TXNM)

Crestline Management LP acquired a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 179,861 shares of the company's stock, valued at approximately $8,844,000. Crestline Management LP owned approximately 0.20% of TXNM Energy as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TXNM. Vanguard Group Inc. bought a new position in shares of TXNM Energy during the fourth quarter valued at approximately $497,880,000. Loomis Sayles & Co. L P purchased a new stake in TXNM Energy during the fourth quarter worth $11,742,000. JPMorgan Chase & Co. bought a new stake in TXNM Energy during the 4th quarter valued at $31,972,000. Pictet Asset Management Holding SA purchased a new position in shares of TXNM Energy in the 4th quarter valued at $484,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of TXNM Energy in the 4th quarter worth $5,093,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on TXNM. Scotiabank lifted their target price on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective for the company in a research note on Tuesday, March 11th. Barclays raised 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. Finally, Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. 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, TXNM Energy has a consensus rating of "Moderate Buy" and a consensus target price of $53.57.

TXNM Energy Stock Performance

Shares of TXNM opened at $52.47 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The stock has a 50-day moving average of $52.28 and a two-hundred day moving average of $49.39. The stock has a market cap of $4.86 billion, a P/E ratio of 27.33, a P/E/G ratio of 6.12 and a beta of 0.11. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $55.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. As a group, research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.11%. TXNM Energy's dividend payout ratio (DPR) is presently 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.

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