First Trust Advisors LP Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

First Trust Advisors LP acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 210,420 shares of the company's stock, valued at approximately $10,346,000. First Trust Advisors LP owned 0.23% of TXNM Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in TXNM Energy in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. purchased a new position in TXNM Energy in the fourth quarter worth approximately $48,000. NewEdge Advisors LLC acquired a new position in TXNM Energy during the 4th quarter worth approximately $53,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $83,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Performance

Shares of TXNM traded down $0.12 during mid-day trading on Thursday, reaching $53.08. 612,591 shares of the company's stock were exchanged, compared to its average volume of 857,779. The business's fifty day simple moving average is $52.22 and its 200-day simple moving average is $49.12. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $55.50. The stock has a market capitalization of $4.92 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting analysts' consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $476.96 million during the quarter, compared to analysts' expectations of $496.05 million. On average, equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Friday, April 25th. TXNM Energy's payout ratio is currently 61.05%.

Analyst Ratings Changes

TXNM has been the subject of a number of analyst reports. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price for the company in a research note on Tuesday, March 11th. Barclays increased their price objective on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Scotiabank raised their price objective 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.57.

TXNM Energy Company 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.