GABELLI & Co INVESTMENT ADVISERS INC. Takes $1.03 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,999 shares of the company's stock, valued at approximately $1,033,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. purchased a new position in shares of TXNM Energy during the fourth quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TXNM Energy in the 4th quarter valued at about $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy in the fourth quarter worth approximately $48,000. CIBC Private Wealth Group LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth approximately $83,000. Finally, Sterling Capital Management LLC purchased a new position in TXNM Energy during the fourth quarter valued at approximately $157,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Stock Performance

TXNM traded up $0.74 during trading on Friday, hitting $53.31. The stock had a trading volume of 934,280 shares, compared to its average volume of 865,553. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $55.50. The company has a 50 day simple moving average of $51.84 and a 200-day simple moving average of $48.61. The firm has a market cap of $4.94 billion, a PE ratio of 27.77, a P/E/G ratio of 6.12 and a beta of 0.15.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting analysts' consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. Analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy's payout ratio is presently 61.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Mizuho raised shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a research note on Tuesday, March 11th. Barclays lifted their price target on TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a report on Tuesday, March 18th. Scotiabank raised their price objective on shares of TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research report on Monday, February 24th. Finally, Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.