T. Rowe Price Investment Management Inc. Makes New $303.74 Million Investment in TXNM Energy, Inc. (NYSE:TXNM)

T. Rowe Price Investment Management Inc. acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,177,409 shares of the company's stock, valued at approximately $303,744,000. T. Rowe Price Investment Management Inc. owned approximately 6.85% of TXNM Energy as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TXNM. Vanguard Group Inc. bought a new position in shares of TXNM Energy in the fourth quarter valued at approximately $497,880,000. FMR LLC purchased a new position in shares of TXNM Energy during the 4th quarter valued at $191,594,000. Alliancebernstein L.P. bought a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $123,764,000. Geode Capital Management LLC bought a new stake in shares of TXNM Energy during the 4th quarter valued at $105,148,000. Finally, Franklin Resources Inc. purchased a new stake in TXNM Energy in the 4th quarter worth approximately $79,524,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Trading Up 0.1 %

TXNM Energy stock traded up $0.08 during mid-day trading on Tuesday, reaching $53.50. 93,255 shares of the company traded hands, compared to its average volume of 855,489. The firm's 50 day moving average price is $52.17 and its 200 day moving average price is $49.06. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 6.12 and a beta of 0.15. 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, Inc. has a 52-week low of $39.60 and a 52-week high of $57.33.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business 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 $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy's dividend payout ratio (DPR) is presently 61.05%.

Wall Street Analysts Forecast Growth

TXNM has been the topic of a number of recent analyst reports. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price objective on the stock in a research report on Tuesday, March 11th. Evercore ISI upgraded TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Scotiabank upped their price objective on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Monday, February 24th. Finally, Barclays lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.57.

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.