Loomis Sayles & Co. L P Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

Loomis Sayles & Co. L P purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 238,800 shares of the company’s stock, valued at approximately $11,742,000. Loomis Sayles & Co. L P owned approximately 0.26% of TXNM Energy as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Prudential Financial Inc. bought a new position in TXNM Energy during the fourth quarter worth $417,000. LPL Financial LLC acquired a new stake in shares of TXNM Energy in the 4th quarter valued at about $470,000. Xponance Inc. bought a new stake in TXNM Energy in the 4th quarter valued at about $625,000. Corebridge Financial Inc. bought a new stake in TXNM Energy in the 4th quarter valued at about $7,189,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in TXNM Energy during the 4th quarter worth approximately $8,369,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

TXNM has been the subject of a number of research reports. Citigroup raised their price objective on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho raised shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price objective on the stock in a research note on Tuesday, March 11th. Barclays lifted 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 upped 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.57.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $53.54 on Friday. 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 firm has a 50-day moving average of $50.60 and a 200-day moving average of $47.59. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $55.50. The company has a market cap of $4.96 billion, a P/E ratio of 27.89, a P/E/G ratio of 6.12 and a beta of 0.32.

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

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.04%. TXNM Energy’s dividend payout ratio 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.