Charles Schwab Investment Management Inc. Invests $67.05 Million in TXNM Energy, Inc. $TXNM

Key Points

• Charles Schwab Investment Management Inc. has invested $67.05 million in TXNM Energy, acquiring approximately 1,253,768 shares.
• TXNM Energy reported a quarterly earnings per share (EPS) of $0.25, missing estimates by $0.21, but had a revenue of $502.42 million, exceeding expectations.
• The company declared a quarterly dividend of $0.4075 per share, yielding 2.9%, with a payout ratio of 84.02%.

Charles Schwab Investment Management Inc. acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 1,253,768 shares of the company's stock, valued at approximately $67,052,000. Charles Schwab Investment Management Inc. owned approximately 1.35% of TXNM Energy at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of TXNM Energy by 3.6% in 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 in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of TXNM Energy during the 4th quarter valued at approximately $303,744,000. Fuller & Thaler Asset Management Inc. purchased a new stake in TXNM Energy during the 4th quarter valued at $189,170,000. Zimmer Partners LP bought a new stake in TXNM Energy in the fourth quarter worth $165,816,000. Finally, Reaves W H & Co. Inc. bought a new position in TXNM Energy during the first quarter valued at $161,678,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Down 0.4%

Shares of TXNM traded down $0.25 during mid-day trading on Monday, hitting $56.64. The company's stock had a trading volume of 724,903 shares, compared to its average volume of 1,275,401. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.69 and a beta of 0.10. The company's 50-day moving average is $56.67 and its 200-day moving average is $54.04. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a 52-week low of $40.24 and a 52-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 earnings per share (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 company had revenue of $502.42 million during the quarter, compared to analysts' expectations of $493.90 million. The company's revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

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