SIR Capital Management L.P. Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

SIR Capital Management L.P. bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 349,221 shares of the company's stock, valued at approximately $17,171,000. TXNM Energy comprises about 1.8% of SIR Capital Management L.P.'s holdings, making the stock its 19th biggest position. SIR Capital Management L.P. owned approximately 0.39% of TXNM Energy as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in TXNM Energy in the 4th quarter valued at approximately $8,369,000. Sei Investments Co. bought a new position in shares of TXNM Energy during the fourth quarter valued at $9,270,000. LPL Financial LLC bought a new position in shares of TXNM Energy during the fourth quarter valued at $470,000. Finally, Vanguard Group Inc. acquired a new position in shares of TXNM Energy during the fourth quarter worth $497,880,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TXNM. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Barclays raised their price objective on TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 18th. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Finally, Scotiabank raised their price target on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, TXNM Energy presently has an average rating of "Moderate Buy" and a consensus price target of $53.57.

TXNM Energy Trading Up 6.9%

NYSE TXNM traded up $3.63 during trading hours on Monday, hitting $56.51. 8,994,321 shares of the company's stock were exchanged, compared to its average volume of 911,716. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 6.12 and a beta of 0.11. The stock has a 50-day simple moving average of $52.77 and a 200 day simple moving average of $49.97. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $60.81.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business 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 of this dividend 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%.

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.