Pictet Asset Management Holding SA Takes $484,000 Position in TXNM Energy, Inc. (NYSE:TXNM)

Pictet Asset Management Holding SA purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 9,853 shares of the company’s stock, valued at approximately $484,000.

Other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at about $48,000. Blair William & Co. IL purchased a new stake in TXNM Energy during the 4th quarter valued at about $211,000. Prudential Financial Inc. acquired a new stake in TXNM Energy in the 4th quarter valued at about $417,000. LPL Financial LLC purchased a new position in TXNM Energy in the 4th quarter worth approximately $470,000. Finally, Xponance Inc. acquired a new position in shares of TXNM Energy during the 4th quarter worth approximately $625,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Trading Up 4.1 %

NYSE TXNM opened at $50.94 on Thursday. 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 $4.72 billion, a P/E ratio of 26.53, a PEG ratio of 6.12 and a beta of 0.15. The firm’s 50-day moving average is $51.38 and its two-hundred day moving average is $48.18. 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 posted its quarterly earnings data on Friday, February 21st. The company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $496.05 million. On average, sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be issued a $0.4075 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.63 annualized dividend and a dividend yield of 3.20%. TXNM Energy’s dividend payout ratio is presently 61.05%.

Wall Street Analysts Forecast Growth

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

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.