Kennedy Capital Management LLC Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Kennedy Capital Management LLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 107,431 shares of the company's stock, valued at approximately $5,282,000. Kennedy Capital Management LLC owned approximately 0.12% of TXNM Energy at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter worth about $497,880,000. FMR LLC acquired a new position in TXNM Energy in the 4th quarter valued at $191,594,000. Alliancebernstein L.P. acquired a new stake in shares of TXNM Energy during the fourth quarter worth $123,764,000. Geode Capital Management LLC purchased a new stake in shares of TXNM Energy in the fourth quarter valued at $105,148,000. Finally, Franklin Resources Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $79,524,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on TXNM. 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 research note on Tuesday, March 11th. Barclays lifted their price target 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. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Scotiabank lifted their price objective 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 analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.57.

TXNM Energy Stock Up 1.4 %

TXNM traded up $0.74 during trading on Friday, hitting $53.31. The company had a trading volume of 934,280 shares, compared to its average volume of 865,553. The company 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. The business has a 50-day moving average of $51.78 and a 200-day moving average of $48.51. 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, Inc. has a 1-year low of $39.60 and a 1-year high of $55.50.

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

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.06%. TXNM Energy's dividend payout ratio is currently 61.05%.

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.