297,968 Shares in TXNM Energy, Inc. (NYSE:TXNM) Purchased by Vennlight Capital Management LP

Vennlight Capital Management LP purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 297,968 shares of the company's stock, valued at approximately $14,651,000. TXNM Energy comprises approximately 13.9% of Vennlight Capital Management LP's investment portfolio, making the stock its biggest position. Vennlight Capital Management LP owned 0.33% of TXNM Energy at the end of the most recent reporting period.

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

TXNM Energy Price Performance

TXNM stock traded up $0.30 during midday trading on Friday, reaching $56.68. The stock had a trading volume of 3,248,908 shares, compared to its average volume of 973,369. The company's fifty day simple moving average is $53.15 and its 200 day simple moving average is $50.34. 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 company has a market cap of $5.25 billion, a price-to-earnings ratio of 29.52, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $57.29.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data 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). TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $482.79 million during the quarter, compared to analysts' expectations of $451.01 million. The business's quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.88%. TXNM Energy's dividend payout ratio is presently 72.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TXNM. Scotiabank upped their target price on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays reissued an "overweight" rating and issued a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday. Wall Street Zen cut shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $54.86.

TXNM Energy 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.