Thornburg Investment Management Inc. Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

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

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TXNM. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays upped their price objective on TXNM Energy from $57.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday. Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, Scotiabank lifted their target price on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $54.86.

TXNM Energy Trading Down 0.1%

Shares of NYSE:TXNM traded down $0.07 during mid-day trading on Wednesday, reaching $56.33. 4,181,645 shares of the company were exchanged, compared to its average volume of 952,970. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year 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 firm's 50-day simple moving average is $52.98 and its 200 day simple moving average is $50.11. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly 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 firm 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 business's quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current 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 given a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Friday, April 25th. 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.