Massar Capital Management LP Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Massar Capital Management LP acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,717 shares of the company’s stock, valued at approximately $871,000.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. bought a new position in TXNM Energy during the fourth quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $38,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $48,000. NewEdge Advisors LLC acquired a new stake in TXNM Energy during the fourth quarter valued at approximately $53,000. Finally, CIBC Private Wealth Group LLC bought a new stake in TXNM Energy during the fourth quarter worth approximately $83,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays upped their price target on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank lifted their price target 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. Finally, Mizuho raised shares of 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TXNM Energy currently has an average rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Price Performance

Shares of TXNM opened at $51.49 on Tuesday. The business’s 50-day moving average is $51.87 and its 200-day moving average is $48.70. 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 company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $55.50.

TXNM Energy (NYSE:TXNM) last issued its earnings results 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 company had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.17%. TXNM Energy’s dividend payout ratio is 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.