Stifel Financial Corp Invests $2.03 Million in TXNM Energy, Inc. (NYSE:TXNM)

Stifel Financial Corp purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 41,306 shares of the company's stock, valued at approximately $2,031,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in TXNM Energy during the fourth quarter worth $497,880,000. Loomis Sayles & Co. L P purchased a new stake in shares of TXNM Energy during the 4th quarter worth $11,742,000. JPMorgan Chase & Co. bought a new stake in TXNM Energy during the fourth quarter valued at about $31,972,000. Pictet Asset Management Holding SA purchased a new position in TXNM Energy in the fourth quarter valued at about $484,000. Finally, Envestnet Asset Management Inc. bought a new position in TXNM Energy in the fourth quarter worth about $5,093,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

TXNM has been the subject of several recent analyst reports. Barclays boosted their price objective 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. Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Mizuho upgraded 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. Finally, Scotiabank increased their price target 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $53.57.

TXNM Energy Stock Down 2.0 %

TXNM Energy stock opened at $52.47 on Tuesday. TXNM Energy, Inc. has a 52 week low of $39.60 and a 52 week high of $55.50. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The business's 50-day moving average price is $52.28 and its 200 day moving average price is $49.39. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80.

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 analysts' consensus estimates of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $476.96 million during the quarter, compared to analysts' expectations of $496.05 million. As a group, sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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

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.

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