Wellington Management Group LLP Buys Shares of 1,302,548 TXNM Energy, Inc. (NYSE:TXNM)

Wellington Management Group LLP bought a new position in TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,302,548 shares of the company’s stock, valued at approximately $64,046,000. Wellington Management Group LLP owned about 1.44% of TXNM Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. bought a new position in TXNM Energy during the fourth quarter valued at approximately $48,000. CIBC Private Wealth Group LLC acquired a new position in shares of TXNM Energy during the 4th quarter worth $83,000. Blair William & Co. IL bought a new position in shares of TXNM Energy during the 4th quarter valued at $211,000. Prudential Financial Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter valued at $417,000. Finally, LPL Financial LLC acquired a new stake in shares of TXNM Energy in the 4th quarter valued at $470,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Down 5.0 %

TXNM opened at $51.28 on Friday. The business has a 50 day moving average of $51.17 and a 200-day moving average of $47.94. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 26.71, a P/E/G ratio of 6.12 and a beta of 0.32. 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 $55.50.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results 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 firm had revenue of $476.96 million during the quarter, compared to the consensus estimate 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 company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid a dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.18%. TXNM Energy’s dividend payout ratio is 61.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on TXNM. Scotiabank raised their target price on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Citigroup boosted their target price on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Barclays increased their price target on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Evercore ISI raised shares of 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. Finally, Mizuho raised shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.57.

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.