Empyrean Capital Partners LP Purchases Shares of 1,404,554 TXNM Energy, Inc. (NYSE:TXNM)

Empyrean Capital Partners 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 disclosure with the Securities & Exchange Commission. The firm acquired 1,404,554 shares of the company's stock, valued at approximately $69,062,000. TXNM Energy accounts for approximately 3.2% of Empyrean Capital Partners LP's holdings, making the stock its 8th biggest holding. Empyrean Capital Partners LP owned about 1.56% of TXNM Energy as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TXNM. Bessemer Group Inc. bought a new stake in TXNM Energy in the 4th quarter worth approximately $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy during the 4th quarter worth approximately $48,000. NewEdge Advisors LLC bought a new stake in shares of TXNM Energy during the 4th quarter worth approximately $53,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of TXNM Energy during the 4th quarter worth approximately $83,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

TXNM stock traded up $0.21 during mid-day trading on Monday, reaching $53.10. 2,012,873 shares of the company's stock were exchanged, compared to its average volume of 856,583. The stock's 50 day moving average is $52.38 and its 200 day moving average is $49.64. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $56.04. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The company had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The company'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 will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be paid a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.07%. TXNM Energy's dividend payout ratio (DPR) is 72.44%.

Analyst Ratings Changes

TXNM has been the subject of a number of research analyst reports. Barclays lifted their target price 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 upped their target price on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. 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 research note on Tuesday, February 11th. Finally, Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $53.57.

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.