American Century Companies Inc. Takes Position in TXNM Energy, Inc. $TXNM

Key Points

• American Century Companies Inc. has invested approximately $5.03 million in TXNM Energy, acquiring 94,088 shares during the 1st quarter, which constitutes about 0.10% of the company.
• Recent ratings by analysts for TXNM Energy have been mixed, with Barclays maintaining an "overweight" rating and a target price increase to $61.00, while others have downgraded their ratings.
• TXNM Energy recently announced a dividend of $0.4075 per share, reflecting an annual yield of 2.9%, with a current dividend payout ratio of 84.02%.

American Century Companies Inc. bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 94,088 shares of the company's stock, valued at approximately $5,032,000. American Century Companies Inc. owned 0.10% of TXNM Energy at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Principal Financial Group Inc. acquired a new position in shares of TXNM Energy during the first quarter valued at approximately $11,181,000. Allspring Global Investments Holdings LLC bought a new position in TXNM Energy during the 1st quarter valued at $878,000. New York State Teachers Retirement System acquired a new position in shares of TXNM Energy during the 1st quarter valued at $4,682,000. KBC Group NV bought a new stake in shares of TXNM Energy in the 1st quarter worth $188,000. Finally, Amalgamated Bank bought a new stake in shares of TXNM Energy in the 1st quarter worth $2,135,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Trading Up 0.2%

TXNM Energy stock traded up $0.14 during midday trading on Friday, reaching $56.64. The stock had a trading volume of 643,600 shares, compared to its average volume of 1,111,901. TXNM Energy, Inc. has a twelve month low of $40.47 and a twelve month high of $57.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.68 and a beta of 0.09. The firm's fifty day simple moving average is $56.69 and its two-hundred day simple moving average is $54.56.

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

TXNM Energy Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on TXNM. Barclays reaffirmed an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Scotiabank raised their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TXNM Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.86.

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.