325,928 Shares in TXNM Energy, Inc. $TXNM Bought by Nuveen LLC

Key Points

• Nuveen LLC recently acquired a new stake in TXNM Energy, purchasing 325,928 shares valued at approximately $17.4 million, representing about 0.35% of the company.
• Analysts have mixed ratings on TXNM Energy, with Barclays raising the price target to $61 but Siebert Williams Shank downgrading the stock to a "hold." Overall, the stock has an average rating of "Moderate Buy" with a target of $54.86.
• TXNM Energy announced a quarterly dividend of $0.4075 per share, which translates to an annualized dividend yield of 2.9%, with a payout ratio of 84.02%.

Nuveen LLC acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 325,928 shares of the company's stock, valued at approximately $17,431,000. Nuveen LLC owned 0.35% of TXNM Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $303,744,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $189,170,000. Zimmer Partners LP acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $165,816,000. Reaves W H & Co. Inc. acquired a new position in shares of TXNM Energy in the first quarter valued at approximately $161,678,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $84,090,000. Institutional investors own 91.68% of the company's stock.

Analysts Set New Price Targets

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

TXNM Energy Price Performance

Shares of TXNM stock traded down $0.1430 during trading hours on Monday, reaching $56.5870. The company's stock had a trading volume of 155,764 shares, compared to its average volume of 1,272,760. The firm's 50 day simple moving average is $56.67 and its 200-day simple moving average is $54.31. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 2.68 and a beta of 0.10. TXNM Energy, Inc. has a fifty-two week low of $40.47 and a fifty-two week high of $57.42. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49.

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

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given 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 dividend payout ratio (DPR) is currently 84.02%.

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.