Cambiar Investors LLC Takes $2.05 Million Position in TXNM Energy, Inc. $TXNM

Key Points

• Cambiar Investors LLC acquired a new stake in TXNM Energy, Inc. during the first quarter, purchasing 38,275 shares worth approximately $2,047,000.
• Analysts currently have a mixed view on TXNM Energy, with one firm rating it a "sell," while the average rating remains "hold," with a consensus target price of $54.86.
• TXNM Energy recently announced a quarterly dividend of $0.4075, which corresponds to an annualized dividend yield of 2.9% and a payout ratio of 84.02%.

Cambiar Investors LLC bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 38,275 shares of the company's stock, valued at approximately $2,047,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in TXNM Energy during the first quarter worth about $25,000. Bessemer Group Inc. bought a new stake in TXNM Energy during the fourth quarter worth about $27,000. Versant Capital Management Inc bought a new stake in TXNM Energy during the first quarter worth about $35,000. Fifth Third Bancorp bought a new stake in TXNM Energy during the first quarter worth about $40,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in TXNM Energy during the first quarter worth about $41,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Stock Performance

NYSE TXNM traded down $0.1350 during trading on Wednesday, reaching $56.5350. 1,533,100 shares of the company's stock were exchanged, compared to its average volume of 1,284,608. The business has a 50 day moving average price of $56.67 and a 200-day moving average price of $54.12. The stock has a market capitalization of $5.96 billion, a P/E ratio of 29.14, a PEG ratio of 2.68 and a beta of 0.10. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. TXNM Energy, Inc. has a fifty-two week low of $40.43 and a fifty-two week high of $57.42.

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

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a $0.4075 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. TXNM Energy's dividend payout ratio is presently 84.02%.

Analysts Set New Price Targets

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

TXNM Energy Company 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.