Callodine Capital Management LP Invests $6.17 Million in TXNM Energy, Inc. (NYSE:TXNM)

Callodine Capital Management LP purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 125,495 shares of the company’s stock, valued at approximately $6,171,000. TXNM Energy makes up about 1.3% of Callodine Capital Management LP’s portfolio, making the stock its 27th biggest position. Callodine Capital Management LP owned approximately 0.14% of TXNM Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter valued at $497,880,000. JPMorgan Chase & Co. purchased a new stake in TXNM Energy in the 4th quarter worth about $31,972,000. Loomis Sayles & Co. L P acquired a new stake in TXNM Energy during the 4th quarter worth about $11,742,000. Pictet Asset Management Holding SA purchased a new position in TXNM Energy during the 4th quarter valued at about $484,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of TXNM Energy in the 4th quarter valued at about $748,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Ratings Changes

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

TXNM Energy Stock Up 1.4 %

TXNM stock opened at $53.31 on Friday. The firm has a market cap of $4.94 billion, a PE ratio of 27.77, a PEG ratio of 6.12 and a beta of 0.15. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $55.50. The company has a fifty day simple moving average of $51.78 and a 200 day simple moving average of $48.51. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The company 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 fiscal year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.06%. TXNM Energy’s payout ratio is currently 61.05%.

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.