Cohen & Steers Inc. Makes New $32.07 Million Investment in TXNM Energy, Inc. (NYSE:TXNM)

Cohen & Steers Inc. bought a new position in TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 652,276 shares of the company’s stock, valued at approximately $32,072,000. Cohen & Steers Inc. owned about 0.72% of TXNM Energy as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. bought a new stake in TXNM Energy during the fourth quarter worth approximately $497,880,000. FMR LLC purchased a new position in shares of TXNM Energy in the 4th quarter worth approximately $191,594,000. Alliancebernstein L.P. bought a new position in shares of TXNM Energy during the 4th quarter valued at approximately $123,764,000. Geode Capital Management LLC purchased a new stake in TXNM Energy during the 4th quarter valued at $105,148,000. Finally, Franklin Resources Inc. bought a new stake in TXNM Energy in the fourth quarter worth $79,524,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Trading Up 3.5 %

Shares of TXNM opened at $51.80 on Monday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 26.98, a PEG 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 1-year low of $39.60 and a 1-year high of $55.50. The company has a 50-day moving average of $51.48 and a 200 day moving average of $48.32.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate 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. On average, research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s payout ratio is 61.05%.

Wall Street Analysts Forecast Growth

TXNM has been the topic of a number of analyst reports. Scotiabank boosted their price objective on shares of TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Mizuho raised shares of 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. Finally, Barclays boosted their target price on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently 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.