Segall Bryant & Hamill LLC Invests $24.12 Million in TXNM Energy, Inc. (NYSE:TXNM)

Segall Bryant & Hamill LLC purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 4th quarter, Holdings Channel.com reports. The firm purchased 490,577 shares of the company’s stock, valued at approximately $24,122,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prudential Financial Inc. acquired a new stake in shares of TXNM Energy during the fourth quarter worth about $417,000. LPL Financial LLC acquired a new position in TXNM Energy during the fourth quarter worth approximately $470,000. Xponance Inc. purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $625,000. Corebridge Financial Inc. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $7,189,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of TXNM Energy during the fourth quarter worth approximately $8,369,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Performance

NYSE:TXNM opened at $54.29 on Tuesday. 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, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $55.50. The firm’s fifty day simple moving average is $50.17 and its 200-day simple moving average is $47.28. The stock has a market cap of $5.03 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 6.12 and a beta of 0.32.

TXNM Energy (NYSE:TXNM) last issued its 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. The company had revenue of $476.96 million during the quarter, compared to analysts’ expectations of $496.05 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. Analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.00%. TXNM Energy’s dividend payout ratio is presently 61.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TXNM shares. Wells Fargo & Company increased their price target on shares of TXNM Energy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Mizuho raised TXNM Energy from a “neutral” rating to an “outperform” rating and set a $53.00 price target on the stock in a report on Tuesday, March 11th. Evercore ISI raised TXNM Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays lifted 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. Finally, Citigroup upped their price target on TXNM Energy from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, TXNM Energy presently has an average rating of “Moderate Buy” and an average price target 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.