Bridgewater Associates LP Takes $16.15 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

Bridgewater Associates LP acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 328,454 shares of the company’s stock, valued at approximately $16,150,000. Bridgewater Associates LP owned about 0.36% of TXNM Energy at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Xponance Inc. bought a new position in shares of TXNM Energy in the 4th quarter worth $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of TXNM Energy during the 4th quarter valued at about $8,369,000. Sei Investments Co. bought a new stake in TXNM Energy in the 4th quarter worth approximately $9,270,000. LPL Financial LLC bought a new position in TXNM Energy during the fourth quarter valued at approximately $470,000. Finally, Vanguard Group Inc. bought a new position in TXNM Energy during the fourth quarter valued at approximately $497,880,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.0 %

Shares of NYSE:TXNM opened at $52.86 on Wednesday. The stock’s 50-day moving average is $51.62 and its 200 day moving average is $48.42. The company has a market cap of $4.90 billion, a PE ratio of 27.53, a P/E/G ratio of 6.12 and a beta of 0.15. 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 $57.00.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The firm had revenue of $476.96 million for 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%. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

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 $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.08%. TXNM Energy’s dividend payout ratio is 61.05%.

Analyst Ratings Changes

Several research firms recently commented on TXNM. Scotiabank increased their target price on shares of TXNM Energy from $52.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a research note on Tuesday, March 11th. Finally, Barclays raised their price target on TXNM Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 18th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, TXNM Energy presently has an average rating of “Moderate Buy” and an average target price of $53.57.

TXNM Energy 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.