Thoroughbred Financial Services LLC Purchases New Holdings in TXNM Energy, Inc. (NYSE:TXNM)

Thoroughbred Financial Services LLC bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,118 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors have also recently made changes to their positions in TXNM. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy during the fourth quarter worth about $497,880,000. Alliancebernstein L.P. bought a new position in TXNM Energy during the 4th quarter valued at about $123,764,000. Geode Capital Management LLC purchased a new stake in TXNM Energy in the 4th quarter valued at about $105,148,000. Franklin Resources Inc. purchased a new stake in shares of TXNM Energy in the 4th quarter worth approximately $79,524,000. Finally, Wellington Management Group LLP purchased a new position in shares of TXNM Energy in the 4th quarter worth approximately $64,046,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Down 5.0 %

Shares of NYSE TXNM opened at $51.28 on Monday. The company has a 50 day simple moving average of $51.17 and a 200 day simple moving average of $48.01. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50. The firm has a market cap of $4.75 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 6.12 and a beta of 0.32. 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 (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. The firm had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. On average, research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a dividend of $0.4075 per share. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.18%. TXNM Energy’s dividend payout ratio (DPR) is 61.05%.

Analyst Upgrades and Downgrades

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