Wellington Management Group LLP Purchases Shares of 1,302,548 TXNM Energy, Inc. (NYSE:TXNM)

Wellington Management Group LLP acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,302,548 shares of the company’s stock, valued at approximately $64,046,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. acquired a new position in TXNM Energy in the fourth quarter worth about $497,880,000. JPMorgan Chase & Co. acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $31,972,000. Segall Bryant & Hamill LLC bought a new position in shares of TXNM Energy during the 4th quarter worth approximately $24,122,000. California Public Employees Retirement System bought a new position in shares of TXNM Energy during the 4th quarter worth approximately $19,644,000. Finally, Loomis Sayles & Co. L P acquired a new stake in TXNM Energy in the 4th quarter valued at $11,742,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Price Performance

Shares of TXNM stock opened at $51.28 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 6.12 and a beta of 0.32. The firm’s 50 day moving average is $51.17 and its 200-day moving average is $47.94. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50.

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, hitting the consensus estimate of $0.30. The firm had revenue of $476.96 million for the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company 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 is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.18%. TXNM Energy’s payout ratio is 61.05%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TXNM. Scotiabank lifted their price objective on TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Mizuho raised shares of 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. Citigroup upped their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Barclays lifted their target price on shares of TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Finally, Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $51.00 to $54.00 in a research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.