ProShare Advisors LLC Purchases New Position in TXNM Energy, Inc. (NYSE:TXNM)

ProShare Advisors LLC purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 185,461 shares of the company's stock, valued at approximately $9,119,000. ProShare Advisors LLC owned 0.21% of TXNM Energy as of its most recent SEC filing.

Several 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 fourth quarter worth about $497,880,000. Jane Street Group LLC purchased a new stake in shares of TXNM Energy during the 4th quarter valued at approximately $3,692,000. Loomis Sayles & Co. L P purchased a new stake in shares of TXNM Energy during the 4th quarter valued at approximately $11,742,000. JPMorgan Chase & Co. acquired a new position in TXNM Energy in the fourth quarter valued at approximately $31,972,000. Finally, Envestnet Asset Management Inc. purchased a new position in TXNM Energy in the fourth quarter worth approximately $5,093,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TXNM shares. Barclays restated an "overweight" rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Scotiabank boosted their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Wall Street Zen cut shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TXNM Energy has a consensus rating of "Hold" and a consensus price target of $54.86.

TXNM Energy Trading Up 0.2%

TXNM Energy stock traded up $0.13 during midday trading on Friday, reaching $56.51. 833,622 shares of the stock traded hands, compared to its average volume of 965,863. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The firm has a market cap of $5.24 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The company has a 50-day simple moving average of $53.11 and a two-hundred day simple moving average of $50.25. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $57.29.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results 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 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%. TXNM Energy's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were issued a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is 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.