Magellan Asset Management Ltd Invests $2.87 Million in TXNM Energy, Inc. (NYSE:TXNM)

Magellan Asset Management Ltd purchased a new stake 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 purchased 58,311 shares of the company’s stock, valued at approximately $2,867,000. Magellan Asset Management Ltd owned approximately 0.06% of TXNM Energy at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of TXNM. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at $48,000. CIBC Private Wealth Group LLC bought a new stake in TXNM Energy during the 4th quarter worth about $83,000. Blair William & Co. IL acquired a new stake in TXNM Energy in the 4th quarter valued at about $211,000. Prudential Financial Inc. bought a new position in shares of TXNM Energy in the fourth quarter worth about $417,000. Finally, LPL Financial LLC acquired a new position in shares of TXNM Energy during the fourth quarter worth approximately $470,000. Institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

TXNM Energy Stock Performance

Shares of TXNM stock opened at $53.91 on Thursday. The stock has a market cap of $5.00 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 6.12 and a beta of 0.32. The stock has a 50-day moving average of $50.94 and a 200-day moving average of $47.84. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $55.50.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, February 21st. The company reported $0.30 earnings per share 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 company had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.02%. TXNM Energy’s 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.