Geode Capital Management LLC Acquires Shares of 2,137,983 TXNM Energy, Inc. (NYSE:TXNM)

Geode Capital Management LLC acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,137,983 shares of the company’s stock, valued at approximately $105,148,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. bought a new position in shares of TXNM Energy during the fourth quarter valued at $48,000. CIBC Private Wealth Group LLC bought a new position in shares of TXNM Energy during the fourth quarter valued at $83,000. Blair William & Co. IL bought a new position in shares of TXNM Energy in the fourth quarter valued at about $211,000. Prudential Financial Inc. bought a new position in shares of TXNM Energy in the fourth quarter valued at about $417,000. Finally, LPL Financial LLC bought a new position in shares of TXNM Energy in the fourth quarter valued at about $470,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Price Performance

Shares of TXNM stock opened at $50.94 on Thursday. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $55.50. The stock has a 50-day moving average price of $51.38 and a 200 day moving average price of $48.18. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $476.96 million during the quarter, compared to analyst estimates of $496.05 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. Research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders 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 dividend yield of 3.20%. TXNM Energy’s payout ratio is currently 61.05%.

Wall Street Analyst Weigh In

TXNM has been the subject of a number of research analyst reports. Citigroup lifted their price target on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. 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. Barclays lifted their price target on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, March 18th. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target for the company in a report on Tuesday, March 11th. Finally, Evercore ISI raised 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 report on Tuesday, February 11th. 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, TXNM Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

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.