Thornburg Investment Management Inc. Makes New $16.34 Million Investment in TXNM Energy, Inc. (NYSE:TXNM)

Thornburg Investment Management Inc. purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 332,398 shares of the company’s stock, valued at approximately $16,344,000.

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

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $52.80 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. The business’s 50 day moving average price is $52.77 and its two-hundred day moving average price is $49.92. The company has a market cap of $4.89 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $56.50.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 9th. The company reported $0.19 earnings per share 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 analyst estimates of $451.01 million. TXNM Energy’s revenue was up 10.5% on a year-over-year basis. On average, analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were given a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, April 25th. TXNM Energy’s payout ratio is presently 72.44%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TXNM shares. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho upgraded TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price on the stock in a report on Tuesday, March 11th. Barclays raised their price target on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Scotiabank upped their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TXNM Energy presently has a consensus rating of “Moderate Buy” and an average price target of $53.57.

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.