Gamco Investors INC. ET AL Acquires New Shares in TXNM Energy, Inc. (NYSE:TXNM)

Gamco Investors INC. ET AL bought a new position 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 Securities & Exchange Commission. The firm bought 781,418 shares of the company's stock, valued at approximately $38,422,000. Gamco Investors INC. ET AL owned about 0.87% of TXNM Energy as of its most recent SEC filing.

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

TXNM Energy Stock Performance

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

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. As a group, equities analysts predict 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 given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, April 25th. TXNM Energy's dividend payout ratio is currently 61.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TXNM. Mizuho raised TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price for the company in a research report on Tuesday, March 11th. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays boosted their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Finally, Scotiabank lifted their price target on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $53.57.

About TXNM Energy

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.