First Manhattan CO. LLC. Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

First Manhattan CO. LLC. purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 36,640 shares of the company’s stock, valued at approximately $1,802,000.

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

TXNM Energy Stock Up 0.4 %

Shares of NYSE:TXNM opened at $52.89 on Friday. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The business’s 50-day moving average is $52.38 and its 200-day moving average is $49.60. The company has a market capitalization of $4.90 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The business had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.08%. TXNM Energy’s dividend payout ratio (DPR) is presently 61.05%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TXNM shares. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank increased their target price on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, February 24th. Barclays boosted their price target on TXNM Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Finally, Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research note on Tuesday, March 11th. 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, the stock has an average rating of “Moderate Buy” and a consensus price target 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.