SIR Capital Management L.P. Invests $17.17 Million in TXNM Energy, Inc. (NYSE:TXNM)

SIR Capital Management L.P. purchased a new position in TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, Holdings Channel reports. The fund purchased 349,221 shares of the company’s stock, valued at approximately $17,171,000. TXNM Energy makes up 1.8% of SIR Capital Management L.P.’s portfolio, making the stock its 19th biggest holding.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new position in TXNM Energy during the fourth quarter valued at approximately $497,880,000. Jane Street Group LLC bought a new position in shares of TXNM Energy in the 4th quarter worth $3,692,000. Loomis Sayles & Co. L P purchased a new stake in shares of TXNM Energy during the 4th quarter worth $11,742,000. JPMorgan Chase & Co. bought a new stake in TXNM Energy during the fourth quarter valued at about $31,972,000. Finally, Envestnet Asset Management Inc. bought a new stake in TXNM Energy during the fourth quarter valued at about $5,093,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXNM has been the subject of several recent analyst reports. 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 note on Tuesday, February 11th. Scotiabank upped their price target on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research report on Monday, February 24th. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective for the company in a research report on Tuesday, March 11th. Finally, 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. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, TXNM Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

TXNM Energy Trading Up 0.4%

Shares of NYSE:TXNM opened at $53.30 on Friday. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The business’s 50 day moving average price is $52.74 and its 200-day moving average price is $49.81. 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 1 year low of $39.60 and a 1 year high of $56.50.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $482.79 million for the quarter, compared to analysts’ expectations of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast 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. Shareholders of record on Friday, April 25th will be paid a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is presently 72.44%.

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.