California Public Employees Retirement System Takes $19.64 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

California Public Employees Retirement System acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 399,519 shares of the company’s stock, valued at approximately $19,644,000. California Public Employees Retirement System owned 0.44% of TXNM Energy as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA purchased a new position in shares of TXNM Energy during the fourth quarter worth $484,000. Nomura Asset Management Co. Ltd. purchased a new position in TXNM Energy during the 4th quarter valued at about $48,000. Blair William & Co. IL acquired a new position in TXNM Energy in the 4th quarter valued at about $211,000. Loomis Sayles & Co. L P purchased a new stake in TXNM Energy during the fourth quarter worth about $11,742,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $31,972,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TXNM. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays increased their price objective on TXNM Energy from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, March 18th. Mizuho upgraded TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 target price for the company in a report on Tuesday, March 11th. Scotiabank boosted their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Finally, Citigroup increased their price target on TXNM Energy from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, TXNM Energy currently has a consensus rating of “Moderate Buy” and an average target price of $53.57.

TXNM Energy Stock Down 5.0 %

Shares of NYSE TXNM opened at $51.28 on Friday. The business has a 50-day moving average of $51.17 and a two-hundred day moving average of $47.94. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 6.12 and a beta of 0.32. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50. 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 announced its quarterly earnings results on Friday, February 21st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $476.96 million during the quarter, compared to the consensus estimate of $496.05 million. On average, analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

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 paid a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 annualized dividend and a yield of 3.18%. 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.