Westwood Holdings Group Inc. Buys New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Westwood Holdings Group Inc. bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,612,120 shares of the company's stock, valued at approximately $79,268,000. Westwood Holdings Group Inc. owned 1.79% of TXNM Energy at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. acquired a new stake in TXNM Energy during the 4th quarter worth about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in TXNM Energy during the 4th quarter worth about $38,000. LRI Investments LLC acquired a new stake in TXNM Energy during the 4th quarter worth about $40,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $48,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $53,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Scotiabank raised their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday. Barclays raised their price target on shares of TXNM Energy from $57.00 to $61.00 and gave the company an "overweight" rating in a research note on Wednesday. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Evercore ISI raised 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 note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, TXNM Energy has an average rating of "Hold" and a consensus price target of $54.86.

TXNM Energy Trading Up 0.2%

Shares of NYSE TXNM traded up $0.11 during midday trading on Thursday, reaching $56.41. 2,768,245 shares of the stock were exchanged, compared to its average volume of 962,047. The company has a 50 day simple moving average of $53.04 and a 200 day simple moving average of $50.16. The stock has a market capitalization of $5.23 billion, a P/E ratio of 29.38, a PEG ratio of 6.12 and a beta of 0.11. 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, Inc. has a twelve month low of $39.60 and a twelve month high of $57.29.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were issued a dividend of $0.4075 per share. The ex-dividend date was Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.89%. TXNM Energy's dividend payout ratio is currently 72.44%.

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.