ProShare Advisors LLC Purchases Shares of 185,461 TXNM Energy, Inc. (NYSE:TXNM)

ProShare Advisors LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 185,461 shares of the company's stock, valued at approximately $9,119,000. ProShare Advisors LLC owned 0.21% of TXNM Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in TXNM Energy during the 4th quarter worth approximately $497,880,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of TXNM Energy during the fourth quarter worth $303,744,000. FMR LLC bought a new stake in shares of TXNM Energy in the fourth quarter valued at about $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of TXNM Energy in the fourth quarter valued at about $189,170,000. Finally, Alliancebernstein L.P. bought a new position in TXNM Energy during the fourth quarter worth about $123,764,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TXNM. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Scotiabank lifted their price objective on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday. Finally, Barclays increased their target price on TXNM Energy from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, TXNM Energy has an average rating of "Moderate Buy" and a consensus target price of $54.86.

TXNM Energy Price Performance

NYSE:TXNM traded down $0.07 during trading hours on Wednesday, hitting $56.33. The company's stock had a trading volume of 4,181,645 shares, compared to its average volume of 952,970. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $57.29. 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 stock has a fifty day simple moving average of $52.98 and a 200-day simple moving average of $50.11. The company has a market capitalization of $5.22 billion, a P/E ratio of 29.34, a PEG ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. TXNM Energy's revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

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

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.