10 Safest Dividend Stocks to Buy Now

3. TXNM Energy, Inc. (NYSE:TXNM)

Beta: 0.15

Dividend Yield: 3.14%

No. of Hedge Funds: 30

TXNM Energy, Inc. (NYSE:TXNM) is an emerging energy company headquartered in Texas and engaged in the exploration, development, and production of oil and natural gas, primarily across the Permian Basin. The company is a relatively minor operator in a highly competitive market dominated by peers like ExxonMobil and Pioneer Natural Resources. TXNM Energy, Inc. (NYSE:TXNM) focuses on operational efficiency, well productivity, and cost control to gain its competitive edge in the market. Additionally, the company is moving forward with a significant emphasis on unconventional drilling and lean capital structure in energy markets.

TXNM Energy, Inc. (NYSE:TXNM) defies the norm by surpassing the market indices with a 52-week performance of 38.17%. In Q4 2024, the reported EPS of $0.30 did not meet the anticipated EPS of $0.32. However, in the growth outlook announced by the company, an increase of 7% to 9% is expected concerning long-term earnings. Additionally, TXNM Energy, Inc. (NYSE:TXNM) increased its 5-year capital investment plan to $7.8 billion, a 26% increase compared to the prior plan. The plan is expected to contribute immensely to the 2025 consolidated earnings guidance of $2.74 to $2.84 per diluted share.

TXNM Energy, Inc. (NYSE:TXNM) has an exceptionally low beta of 0.15, which signals an abnormal stability for such high returns, making the stock stand out among the safest stocks to buy. The dividend yield of 3.14% adds income appeal to the stock. Interest from 30 hedge funds suggests increasing institutional confidence.