Zimmer Partners LP Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Zimmer Partners LP acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,372,304 shares of the company's stock, valued at approximately $165,816,000. TXNM Energy accounts for about 2.9% of Zimmer Partners LP's portfolio, making the stock its 12th largest holding. Zimmer Partners LP owned about 3.74% of TXNM Energy as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. bought a new position in TXNM Energy in the 4th quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in TXNM Energy in the 4th quarter worth $38,000. LRI Investments LLC bought a new position in TXNM Energy in the 4th quarter worth $40,000. Nomura Asset Management Co. Ltd. bought a new position in TXNM Energy in the 4th quarter worth $48,000. Finally, NewEdge Advisors LLC bought a new position in TXNM Energy in the 4th quarter worth $53,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Stock Up 6.9%

Shares of NYSE TXNM opened at $56.51 on Tuesday. The firm's 50-day moving average price is $52.88 and its 200-day moving average price is $50.07. 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 stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 6.12 and a beta of 0.11. 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 announced its earnings results 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). The business had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business's revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 25th were given a $0.4075 dividend. 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 currently 72.44%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotiabank upped their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective for the company in a report on Tuesday, March 11th. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Barclays increased their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $53.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.