2,517,062 Shares in TXNM Energy, Inc. (NYSE:TXNM) Bought by Alliancebernstein L.P.

Alliancebernstein L.P. purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 2,517,062 shares of the company’s stock, valued at approximately $123,764,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in TXNM Energy during the fourth quarter valued at approximately $497,880,000. Wellington Management Group LLP bought a new stake in shares of TXNM Energy during the 4th quarter worth approximately $64,046,000. JPMorgan Chase & Co. bought a new position in shares of TXNM Energy in the fourth quarter valued at $31,972,000. Segall Bryant & Hamill LLC bought a new position in shares of TXNM Energy in the fourth quarter valued at $24,122,000. Finally, California Public Employees Retirement System acquired a new position in TXNM Energy during the fourth quarter worth $19,644,000. 91.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Scotiabank lifted 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. Citigroup boosted their price target on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Barclays raised their price objective on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, March 18th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target for the company in a report on Tuesday, March 11th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Stock Up 0.7 %

TXNM opened at $53.91 on Thursday. The stock has a fifty day moving average of $50.94 and a 200-day moving average of $47.84. The company has a market capitalization of $5.00 billion, a P/E ratio of 28.08, a P/E/G ratio of 6.12 and a beta of 0.32. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $55.50. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share (EPS) 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. On average, equities analysts expect 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 will be paid on Friday, May 16th. Shareholders 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 dividend on an annualized basis and a yield of 3.02%. TXNM Energy’s dividend payout ratio (DPR) is presently 61.05%.

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.