Millennium Management LLC Invests $75.41 Million in TXNM Energy, Inc. (NYSE:TXNM)

Millennium Management LLC bought a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,533,662 shares of the company's stock, valued at approximately $75,410,000. Millennium Management LLC owned about 1.70% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of TXNM. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter valued at $27,000. Aster Capital Management DIFC Ltd acquired a new position in TXNM Energy in the fourth quarter valued at $38,000. LRI Investments LLC purchased a new stake in TXNM Energy during the fourth quarter valued at about $40,000. Nomura Asset Management Co. Ltd. acquired a new stake in TXNM Energy during the fourth quarter worth about $48,000. Finally, NewEdge Advisors LLC purchased a new position in shares of TXNM Energy in the 4th quarter worth about $53,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 6.9%

Shares of NYSE TXNM traded up $3.63 during midday trading on Monday, reaching $56.51. 8,994,321 shares of the company's stock were exchanged, compared to its average volume of 911,716. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $60.81. The business's fifty day moving average price is $52.77 and its two-hundred day moving average price is $49.97. The stock has a market capitalization of $5.24 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. The business's revenue was up 10.5% on a year-over-year basis. Analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 25th were paid a $0.4075 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.88%. TXNM Energy's dividend payout ratio (DPR) is presently 72.44%.

Analyst Ratings Changes

Several research firms have issued reports on TXNM. Mizuho upgraded 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. Scotiabank boosted their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research note on Monday, February 24th. Barclays upped their target price on TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Finally, Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and raised their target price for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.