Zimmer Partners LP Invests $165.82 Million in TXNM Energy, Inc. (NYSE:TXNM)

Zimmer Partners LP bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,372,304 shares of the company's stock, valued at approximately $165,816,000. TXNM Energy makes up about 2.9% of Zimmer Partners LP's portfolio, making the stock its 12th largest holding. Zimmer Partners LP owned approximately 3.74% of TXNM Energy as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy during the fourth quarter worth $27,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TXNM Energy during the fourth quarter worth $38,000. LRI Investments LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth $40,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy during the fourth quarter worth $48,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth $53,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TXNM has been the subject of several research reports. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday. Scotiabank boosted their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. Barclays restated an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research report on Wednesday. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $54.86.

TXNM Energy Stock Performance

NYSE TXNM traded up $0.30 on Friday, reaching $56.68. 3,248,908 shares of the company's stock traded hands, compared to its average volume of 973,369. The stock has a 50 day moving average price of $53.15 and a 200-day moving average price of $50.38. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 6.12 and a beta of 0.11. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week 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 issued 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). The firm 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 company's quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were given a $0.4075 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.88%. TXNM Energy's dividend payout ratio (DPR) is currently 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.