Xponance Inc. Invests $625,000 in TXNM Energy, Inc. (NYSE:TXNM)

Xponance Inc. acquired a new position in TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 12,711 shares of the company’s stock, valued at approximately $625,000.

TXNM Energy Stock Performance

Shares of TXNM opened at $53.97 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. The firm’s 50 day moving average is $50.30 and its 200-day moving average is $47.37. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $55.50. The stock has a market capitalization of $5.00 billion, a P/E ratio of 28.11, a P/E/G ratio of 6.12 and a beta of 0.32.

TXNM Energy (NYSE:TXNM) last posted its quarterly 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. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $476.96 million for the quarter, compared to analyst estimates of $496.05 million. Equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS 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 given a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 3.02%. TXNM Energy’s dividend payout ratio (DPR) is 61.05%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TXNM shares. Wells Fargo & Company lifted their target price on TXNM Energy from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Barclays upped their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Mizuho upgraded shares of TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a research report on Tuesday, March 11th. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $51.00 to $54.00 in a report on Tuesday, February 11th. Finally, Scotiabank boosted their target price on TXNM Energy from $52.00 to $55.00 and gave the stock a “sector perform” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.