Thornburg Investment Management Inc. Sells 34,134 Shares of TXNM Energy, Inc. (NYSE:TXNM)

Key Points

• Thornburg Investment Management Inc. reduced its stake in TXNM Energy, Inc. by 10.3% during the first quarter, now owning approximately 0.32% of the company, valued at $15,951,000.
• Several institutional investors have recently increased their positions in TXNM Energy, including Vanguard Group Inc. with an investment of approximately $497.88 million.
• TXNM Energy announced a quarterly dividend of $0.4075 per share, resulting in an annualized yield of 2.87% with a payout ratio of 72.44%.

Thornburg Investment Management Inc. lowered its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298,264 shares of the company's stock after selling 34,134 shares during the quarter. Thornburg Investment Management Inc. owned 0.32% of TXNM Energy worth $15,951,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in shares of TXNM Energy in the 1st quarter valued at $25,000. Bessemer Group Inc. purchased a new stake in TXNM Energy in the 4th quarter worth about $27,000. Versant Capital Management Inc purchased a new stake in TXNM Energy in the 1st quarter worth about $35,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy in the 4th quarter worth about $38,000. Finally, LRI Investments LLC purchased a new stake in TXNM Energy in the 4th quarter worth about $40,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Stock Performance

Shares of NYSE:TXNM traded down $0.09 during trading on Friday, hitting $56.70. 1,152,772 shares of the stock were exchanged, compared to its average volume of 1,287,343. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $57.42. The company has a market capitalization of $5.98 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.68 and a beta of 0.13. The company's fifty day simple moving average is $56.60 and its 200-day simple moving average is $53.26. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.19 and a current ratio of 0.29.

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). The company had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The business's revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, August 8th. TXNM Energy's dividend payout ratio (DPR) is 72.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. 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. Finally, Barclays reaffirmed an "overweight" rating and set a $61.00 price target (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" 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.