Mariner LLC Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

Mariner LLC purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,582 shares of the company's stock, valued at approximately $1,012,000.

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

TXNM Energy Price Performance

Shares of TXNM traded down $0.16 during midday trading on Friday, reaching $52.87. The stock had a trading volume of 89,865 shares, compared to its average volume of 1,050,711. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The company's 50-day moving average is $52.23 and its 200 day moving average is $49.18. TXNM Energy, Inc. has a 12-month low of $35.56 and a 12-month 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 the consensus estimate of $0.30. The business 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%. On average, equities analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, April 25th. TXNM Energy's payout ratio is presently 61.05%.

Wall Street Analysts Forecast Growth

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