Wells Fargo & Company MN Takes $4.54 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

Wells Fargo & Company MN purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 92,268 shares of the company's stock, valued at approximately $4,537,000. Wells Fargo & Company MN owned about 0.10% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in shares of TXNM Energy during the 4th quarter valued at approximately $497,880,000. Alliancebernstein L.P. purchased a new position in TXNM Energy in the fourth quarter valued at approximately $123,764,000. Geode Capital Management LLC bought a new position in TXNM Energy during the fourth quarter valued at $105,148,000. Franklin Resources Inc. purchased a new stake in TXNM Energy in the fourth quarter worth $79,524,000. Finally, Wellington Management Group LLP bought a new stake in shares of TXNM Energy in the fourth quarter valued at $64,046,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXNM. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target for the company in a research note on Tuesday, March 11th. Scotiabank increased their target price 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. Barclays raised their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Finally, Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the company 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 stock. Based on data from MarketBeat, TXNM Energy has an average rating of "Moderate Buy" and a consensus target price of $53.57.

TXNM Energy Price Performance

NYSE:TXNM traded down $0.55 during trading hours on Friday, hitting $52.74. The stock had a trading volume of 190,637 shares, compared to its average volume of 859,824. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $55.50. The company has a 50 day simple moving average of $52.07 and a two-hundred day simple moving average of $48.84. 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 posted its earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The business had revenue of $476.96 million during the quarter, compared to analysts' expectations of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

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 dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.09%. TXNM Energy's payout ratio is presently 61.05%.

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.