Corebridge Financial Inc. Purchases Shares of 146,204 TXNM Energy, Inc. (NYSE:TXNM)

Corebridge Financial Inc. acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 146,204 shares of the company’s stock, valued at approximately $7,189,000. Corebridge Financial Inc. owned 0.16% of TXNM Energy at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Xponance Inc. acquired a new position in TXNM Energy in the 4th quarter valued at about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in TXNM Energy during the fourth quarter worth approximately $8,369,000. LPL Financial LLC bought a new stake in shares of TXNM Energy during the fourth quarter worth approximately $470,000. Vanguard Group Inc. acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $497,880,000. Finally, Sei Investments Co. acquired a new stake in TXNM Energy during the 4th quarter worth approximately $9,270,000. 91.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

TXNM has been the topic of a number of research reports. Citigroup upped their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Mizuho upgraded 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. Barclays boosted their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Finally, Scotiabank raised their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $53.57.

TXNM Energy Trading Down 0.3 %

Shares of TXNM Energy stock opened at $53.54 on Friday. The firm’s 50-day moving average price is $50.60 and its two-hundred day moving average price is $47.54. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 6.12 and a beta of 0.32. 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 $55.50.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. On average, analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.04%. TXNM Energy’s dividend payout ratio (DPR) is currently 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.