Vanguard Group Inc. Purchases 361,945 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Vanguard Group Inc. increased its holdings in TXNM Energy by 3.6%, acquiring 361,945 additional shares, bringing their total ownership to approximately 11.32% valued at $560.9 million.
• TXNM Energy's recent earnings report showed earnings per share of $0.25, missing expectations of $0.46, although revenue was above estimates at $502.42 million, reflecting a 2.9% year-over-year increase.
• The company declared a quarterly dividend of $0.4075 per share, resulting in an annualized yield of 2.9%, with a dividend payout ratio of 84.02%.

Vanguard Group Inc. raised its stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,487,634 shares of the company's stock after buying an additional 361,945 shares during the quarter. Vanguard Group Inc. owned 11.32% of TXNM Energy worth $560,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in shares of TXNM Energy during the 1st quarter valued at about $25,000. Bessemer Group Inc. acquired a new stake in TXNM Energy during the fourth quarter worth $27,000. Versant Capital Management Inc acquired a new position in shares of TXNM Energy during the first quarter valued at $35,000. LRI Investments LLC acquired a new position in TXNM Energy in the fourth quarter valued at about $40,000. Finally, Fifth Third Bancorp bought a new stake in TXNM Energy during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Price Performance

TXNM Energy stock traded down $0.22 during mid-day trading on Monday, reaching $56.68. 442,450 shares of the company were exchanged, compared to its average volume of 1,273,633. TXNM Energy, Inc. has a 12 month low of $40.24 and a 12 month 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 0.36. The company has a fifty day simple moving average of $56.67 and a 200-day simple moving average of $54.04. The firm has a market cap of $5.97 billion, a PE ratio of 29.21, a PEG ratio of 2.69 and a beta of 0.10.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted 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 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 7.34% and a net margin of 8.75%. The firm's revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given 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 is Friday, August 8th. TXNM Energy's payout ratio is 84.02%.

Wall Street Analyst Weigh In

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

TXNM Energy Company 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.