Reaves W H & Co. Inc. Buys Shares of 3,023,146 TXNM Energy, Inc. (NYSE:TXNM)

Key Points

• Reaves W H & Co. Inc. purchased a new stake of 3,023,146 shares in TXNM Energy, Inc. valued at approximately $161.68 million, representing 4.1% of its investment portfolio.
• TXNM Energy recently announced a quarterly dividend of $0.4075 per share, which translates to an annualized yield of 2.9%.
• The company's latest quarterly earnings showed a net margin of 8.75% and revenue of $502.42 million, surpassing the consensus estimate of $493.90 million.

Reaves W H & Co. Inc. 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 3,023,146 shares of the company's stock, valued at approximately $161,678,000. TXNM Energy makes up approximately 4.1% of Reaves W H & Co. Inc.'s portfolio, making the stock its 6th largest position. Reaves W H & Co. Inc. owned about 3.26% of TXNM Energy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. acquired a new position in TXNM Energy during the fourth quarter worth approximately $303,744,000. FMR LLC acquired a new position in TXNM Energy during the fourth quarter worth approximately $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in TXNM Energy during the fourth quarter worth approximately $189,170,000. Zimmer Partners LP acquired a new position in TXNM Energy during the fourth quarter worth approximately $165,816,000. Finally, Geode Capital Management LLC acquired a new position in TXNM Energy during the fourth quarter worth approximately $105,148,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

TXNM has been the topic of several research reports. 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. Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays reiterated an "overweight" rating and set a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $54.86.

TXNM Energy Price Performance

NYSE:TXNM traded down $0.38 during trading hours on Friday, reaching $56.73. 1,320,171 shares of the company were exchanged, compared to its average volume of 1,262,555. The company has a market capitalization of $5.98 billion, a P/E ratio of 29.24, a P/E/G ratio of 2.70 and a beta of 0.10. TXNM Energy, Inc. has a 1-year low of $39.70 and a 1-year 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 0.19. The business has a 50 day moving average of $56.63 and a 200 day moving average of $53.62.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly 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). The company had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%. TXNM Energy's quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, August 8th. TXNM Energy's dividend payout ratio (DPR) is currently 84.02%.

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.