Corebridge Financial Inc. Purchases New Position in TXNM Energy, Inc. (NYSE:TXNM)

Corebridge Financial Inc. acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 146,204 shares of the company’s stock, valued at approximately $7,189,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. LPL Financial LLC acquired a new position in shares of TXNM Energy during the fourth quarter worth $470,000. Xponance Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter valued at $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in TXNM Energy during the 4th quarter worth $8,369,000. Sei Investments Co. acquired a new position in TXNM Energy in the 4th quarter worth about $9,270,000. Finally, Vanguard Group Inc. bought a new position in TXNM Energy in the fourth quarter valued at about $497,880,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analysts Set New Price Targets

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

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $53.54 on Friday. The company has a market capitalization of $4.96 billion, a PE ratio of 27.89, a P/E/G ratio of 6.12 and a beta of 0.32. 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 twelve month low of $39.60 and a twelve month high of $55.50. The firm has a fifty day simple moving average of $50.60 and a 200 day simple moving average of $47.54.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting the consensus estimate 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 analyst estimates of $496.05 million. On average, sell-side analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a $0.4075 dividend. This represents a $1.63 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, April 25th. TXNM Energy’s dividend payout ratio (DPR) is presently 61.05%.

About TXNM Energy

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.