Quadrant Capital Group LLC Invests $210,000 in TXNM Energy, Inc. (NYSE:TXNM)

Quadrant Capital Group LLC bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,273 shares of the company’s stock, valued at approximately $210,000.

Several other hedge funds 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 worth $48,000. CIBC Private Wealth Group LLC purchased a new stake in TXNM Energy during the 4th quarter worth $83,000. Blair William & Co. IL purchased a new stake in TXNM Energy during the 4th quarter worth $211,000. Landscape Capital Management L.L.C. acquired a new stake in TXNM Energy in the 4th quarter valued at $238,000. Finally, Thoroughbred Financial Services LLC purchased a new position in TXNM Energy in the fourth quarter valued at about $251,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Evercore ISI upgraded TXNM Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho upgraded 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. 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 note on Monday, February 24th. Citigroup boosted their price objective on shares of TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Barclays raised their target price on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.57.

TXNM Energy Stock Performance

Shares of TXNM opened at $48.92 on Wednesday. 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 12-month low of $39.60 and a 12-month high of $55.50. The business’s fifty day moving average price is $51.28 and its 200 day moving average price is $48.10. The stock has a market capitalization of $4.53 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 6.12 and a beta of 0.15.

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. The business had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a $0.4075 dividend. This represents a $1.63 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) 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.