Aberdeen Group plc Invests $21.05 Million in TXNM Energy, Inc. $TXNM

Key Points

• Aberdeen Group plc acquired 393,600 shares of TXNM Energy, Inc. for about $21.05 million, holding approximately 0.42% of the company as of its latest SEC filing.
• In its most recent earnings report, TXNM Energy posted $0.25 EPS, missing analysts' expected $0.46, but recorded a revenue increase of 2.9% year-over-year.
• The company declared a quarterly dividend of $0.4075 per share, with an annualized yield of 2.9%, representing a payout ratio of 84.02%.

Aberdeen Group plc bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 393,600 shares of the company's stock, valued at approximately $21,050,000. Aberdeen Group plc owned 0.42% of TXNM Energy at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in TXNM Energy by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after buying an additional 361,945 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in TXNM Energy during the 4th quarter worth approximately $303,744,000. Fuller & Thaler Asset Management Inc. acquired a new stake in TXNM Energy during the 4th quarter worth approximately $189,170,000. Zimmer Partners LP acquired a new stake in TXNM Energy during the 4th quarter worth approximately $165,816,000. Finally, Reaves W H & Co. Inc. acquired a new stake in TXNM Energy during the 1st quarter worth approximately $161,678,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Up 0.3%

TXNM traded up $0.1750 during trading on Friday, hitting $56.7250. 1,239,047 shares of the company's stock were exchanged, compared to its average volume of 1,175,085. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The business's 50 day moving average is $56.67 and its two-hundred day moving average is $54.28. TXNM Energy, Inc. has a fifty-two week low of $40.47 and a fifty-two week high of $57.42. The stock has a market cap of $5.98 billion, a P/E ratio of 29.24, a PEG ratio of 2.68 and a beta of 0.10.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The business had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.4075 per share. The ex-dividend date was Friday, August 8th. This represents a $1.63 annualized dividend and a yield of 2.9%. TXNM Energy's dividend payout ratio is presently 84.02%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TXNM. Scotiabank lifted their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Barclays restated an "overweight" rating and issued a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.86.

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.