Vennlight Capital Management LP Buys Shares of 297,968 TXNM Energy, Inc. (NYSE:TXNM)

Vennlight Capital Management LP purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 297,968 shares of the company's stock, valued at approximately $14,651,000. TXNM Energy makes up approximately 13.9% of Vennlight Capital Management LP's 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.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. purchased a new position in shares of TXNM Energy in the 4th quarter valued at approximately $497,880,000. T. Rowe Price Investment Management Inc. acquired a new position in TXNM Energy during the 4th quarter valued at approximately $303,744,000. FMR LLC purchased a new position in shares of TXNM Energy in the fourth quarter worth $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of TXNM Energy during the fourth quarter worth $189,170,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of TXNM Energy during the fourth quarter valued at $123,764,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday. Scotiabank increased 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. Barclays upped their target price on TXNM Energy from $57.00 to $61.00 and gave the company an "overweight" rating in a research report on Wednesday. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday. One investment 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $54.86.

TXNM Energy Price Performance

Shares of TXNM stock traded up $0.11 during mid-day trading on Thursday, hitting $56.41. 2,768,245 shares of the stock were exchanged, compared to its average volume of 962,047. The company has a market cap of $5.23 billion, a PE ratio of 29.38, 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. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average of $53.04 and a 200 day moving average of $50.16.

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

TXNM Energy Dividend Announcement

The firm also recently announced 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. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, April 25th. TXNM Energy's payout ratio is 72.44%.

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.