Thornburg Investment Management Inc. Has $15.95 Million Stock Holdings in 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. trimmed its position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 10.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 298,264 shares of the company's stock after selling 34,134 shares during the period. Thornburg Investment Management Inc. owned 0.32% of TXNM Energy worth $15,951,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Hughes Financial Services LLC bought a new position in shares of TXNM Energy in the 1st quarter valued at $25,000. Bessemer Group Inc. bought a new position in shares of TXNM Energy in the 4th quarter valued at $27,000. Versant Capital Management Inc bought a new position in shares of TXNM Energy in the 1st quarter valued at $35,000. Aster Capital Management DIFC Ltd bought a new position in TXNM Energy during the 4th quarter worth $38,000. Finally, LRI Investments LLC bought a new position in TXNM Energy during the 4th quarter worth $40,000. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Trading Down 0.2%

TXNM Energy stock traded down $0.09 during trading hours on Friday, reaching $56.70. 1,152,772 shares of the company's stock were exchanged, compared to its average volume of 1,180,786. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The firm's 50 day simple moving average is $56.60 and its 200 day simple moving average is $53.33. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $57.42. The firm has a market capitalization of $5.98 billion, a PE ratio of 25.20, a PEG ratio of 2.69 and a beta of 0.10.

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 for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The business had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. The company's quarterly revenue was up 2.9% on a year-over-year basis. Research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current 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 paid a $0.4075 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. TXNM Energy's dividend payout ratio (DPR) is currently 72.44%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TXNM. Scotiabank raised their target price on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. One research 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 stock presently has a consensus 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.