Sagefield Capital LP Takes $10.85 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

Sagefield Capital LP purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 220,712 shares of the company's stock, valued at approximately $10,852,000. TXNM Energy comprises about 1.2% of Sagefield Capital LP's investment portfolio, making the stock its 20th largest position. Sagefield Capital LP owned approximately 0.24% of TXNM Energy at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new position in shares of TXNM Energy during the fourth quarter valued at about $497,880,000. Jane Street Group LLC purchased a new stake in TXNM Energy in the fourth quarter worth about $3,692,000. Loomis Sayles & Co. L P purchased a new stake in TXNM Energy in the fourth quarter worth about $11,742,000. JPMorgan Chase & Co. purchased a new stake in TXNM Energy in the fourth quarter worth about $31,972,000. Finally, Envestnet Asset Management Inc. purchased a new stake in TXNM Energy in the fourth quarter worth about $5,093,000. 91.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TXNM. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho upgraded shares of TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a research note on Tuesday, March 11th. Barclays upped their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Finally, Scotiabank upped their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $54.29.

TXNM Energy Stock Performance

TXNM Energy stock traded down $0.15 during midday trading on Tuesday, reaching $56.42. 5,892,374 shares of the company traded hands, compared to its average volume of 936,745. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The business has a 50 day moving average of $52.88 and a two-hundred day moving average of $50.07. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $57.29. 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 (NYSE:TXNM - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share 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 during the quarter, compared to the consensus estimate of $451.01 million. The company's revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were given a dividend of $0.4075 per share. The ex-dividend date was Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 2.89%. TXNM Energy's payout ratio is 72.44%.

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.