Thornburg Investment Management Inc. Buys Shares of 332,398 TXNM Energy, Inc. (NYSE:TXNM)

Thornburg Investment Management Inc. purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 332,398 shares of the company's stock, valued at approximately $16,344,000. Thornburg Investment Management Inc. owned 0.37% of TXNM Energy at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new position in shares of TXNM Energy in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of TXNM Energy during the 4th quarter worth $38,000. LRI Investments LLC purchased a new position in shares of TXNM Energy during the 4th quarter worth about $40,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of TXNM Energy in the 4th quarter valued at $48,000. Finally, NewEdge Advisors LLC purchased a new position in shares of TXNM Energy in the 4th quarter worth about $53,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Ratings Changes

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

TXNM Energy Price Performance

TXNM traded up $0.16 during midday trading on Friday, hitting $56.54. The company had a trading volume of 1,750,612 shares, compared to its average volume of 966,277. The firm's 50-day simple moving average is $53.11 and its 200-day simple moving average is $50.25. The company has a market capitalization of $5.24 billion, a PE ratio of 29.46, a P/E/G ratio of 6.12 and a beta of 0.11. 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 quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The company had revenue of $482.79 million during 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 firm's revenue was up 10.5% on a year-over-year basis. Equities research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were paid a $0.4075 dividend. This represents a $1.63 annualized dividend 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.