Price T Rowe Associates Inc. MD Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Price T Rowe Associates Inc. MD bought a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 62,595 shares of the company's stock, valued at approximately $3,078,000. Price T Rowe Associates Inc. MD owned approximately 0.07% of TXNM Energy at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TXNM. Yaupon Capital Management LP acquired a new stake in shares of TXNM Energy during the fourth quarter worth $31,437,000. Susquehanna International Group LLP acquired a new stake in TXNM Energy during the 4th quarter worth about $2,877,000. Massar Capital Management LP purchased a new stake in TXNM Energy during the fourth quarter valued at about $871,000. Hsbc Holdings PLC acquired a new position in shares of TXNM Energy in the fourth quarter worth about $232,000. Finally, Stifel Financial Corp purchased a new position in shares of TXNM Energy in the fourth quarter worth approximately $2,031,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TXNM has been the subject of several research analyst reports. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price target for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. 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. 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. 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 note on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $53.57.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $52.47 on Tuesday. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $55.50. The stock's 50-day moving average is $52.28 and its two-hundred day moving average is $49.39. 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 firm has a market cap of $4.86 billion, a P/E ratio of 27.33, a PEG ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, April 25th. TXNM Energy's payout ratio is 61.05%.

TXNM Energy Company 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.

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