Point72 Asset Management L.P. Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

Point72 Asset Management L.P. bought a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,710,190 shares of the company’s stock, valued at approximately $84,090,000. Point72 Asset Management L.P. owned 1.90% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. bought a new position in TXNM Energy in the fourth quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in TXNM Energy during the 4th quarter valued at about $38,000. LRI Investments LLC bought a new position in shares of TXNM Energy in the 4th quarter valued at about $40,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy during the 4th quarter worth approximately $48,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of TXNM Energy during the 4th quarter worth approximately $53,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of TXNM stock opened at $53.07 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $56.50. The firm has a fifty day moving average of $52.63 and a 200-day moving average of $49.75. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM) last posted its 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 net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. TXNM Energy’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.07%. TXNM Energy’s dividend payout ratio is presently 72.44%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Mizuho raised shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Tuesday, March 11th. Barclays lifted their price objective on TXNM Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 18th. 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 note on Monday, February 24th. Finally, Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.