Thoroughbred Financial Services LLC Invests $251,000 in TXNM Energy, Inc. (NYSE:TXNM)

Thoroughbred Financial Services LLC purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 4th quarter, Holdings Channel.com reports. The fund purchased 5,118 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. purchased a new stake in shares of TXNM Energy in the fourth quarter worth approximately $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 bought a new position in TXNM Energy during the 4th quarter worth approximately $211,000. Prudential Financial Inc. acquired a new position in TXNM Energy in the 4th quarter worth $417,000. Finally, LPL Financial LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at about $470,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Trading Down 5.0 %

Shares of TXNM opened at $51.28 on Monday. The stock has a market capitalization of $4.75 billion, a PE ratio of 26.71, a P/E/G ratio of 6.12 and a beta of 0.32. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. The company’s fifty day moving average is $51.17 and its 200 day moving average is $48.01. 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 posted its quarterly earnings results on Friday, February 21st. The company reported $0.30 EPS for the quarter, meeting 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 during the quarter, compared to analyst estimates of $496.05 million. Sell-side analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid 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 dividend payout ratio (DPR) is 61.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TXNM shares. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a research report on Tuesday, March 11th. Citigroup upped their price target on shares of TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company 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 note on Tuesday, March 18th. Finally, Scotiabank lifted their price objective on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, TXNM Energy presently has an average rating of “Moderate Buy” and an average price target 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.