Renaissance Technologies LLC Purchases Shares of 462,684 TXNM Energy, Inc. (NYSE:TXNM)

Renaissance Technologies LLC bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 462,684 shares of the company's stock, valued at approximately $22,750,000. Renaissance Technologies LLC owned about 0.51% of TXNM Energy at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of TXNM Energy during the 4th quarter worth about $38,000. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy during the 4th quarter worth approximately $48,000. CIBC Private Wealth Group LLC acquired a new position in shares of TXNM Energy in the 4th quarter valued at $83,000. Quadrant Capital Group LLC acquired a new stake in TXNM Energy during the 4th quarter worth $210,000. Finally, Blair William & Co. IL acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $211,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

TXNM Energy stock 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 firm has a market capitalization of $4.94 billion, a PE ratio of 27.77, a P/E/G ratio of 6.12 and a beta of 0.15. 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 simple moving average is $51.78 and its 200 day simple moving average is $48.51. 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 (NYSE:TXNM - Get Free Report) last released 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 during the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. On average, equities research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.06%. TXNM Energy's dividend payout ratio (DPR) is presently 61.05%.

Analysts Set New Price Targets

Several analysts recently commented on TXNM shares. Barclays upped their price target on shares of TXNM Energy from $56.00 to $57.00 and gave the company an "overweight" rating in a research report on Tuesday, March 18th. Mizuho raised 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 lifted their target price 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. Finally, Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Two investment 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 a consensus rating of "Moderate Buy" and an average price target of $53.57.

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.