TXNM Energy, Inc. $TXNM Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its holdings in TXNM Energy by 98.8% during the first quarter, now owning approximately 799,068 shares valued at around $42.7 million.
• TXNM Energy's recent earnings report showed a missed EPS target of $0.25 compared to the expected $0.46, despite reporting a revenue increase of 2.9% year-over-year.
• The firm announced a quarterly dividend of $0.4075 per share, set to be paid on August 22nd, resulting in an annualized yield of 2.9%.

Invesco Ltd. increased its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 98.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 799,068 shares of the company's stock after acquiring an additional 397,037 shares during the quarter. Invesco Ltd. owned about 0.86% of TXNM Energy worth $42,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in TXNM Energy during the first quarter worth about $11,181,000. Allspring Global Investments Holdings LLC acquired a new position in TXNM Energy in the 1st quarter valued at about $878,000. New York State Teachers Retirement System acquired a new position in TXNM Energy in the 1st quarter valued at about $4,682,000. KBC Group NV acquired a new position in TXNM Energy in the 1st quarter valued at about $188,000. Finally, Amalgamated Bank acquired a new position in TXNM Energy in the 1st quarter valued at about $2,135,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on TXNM shares. Scotiabank boosted their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, May 20th. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Barclays reiterated an "overweight" rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Finally, Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a 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 given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.86.

TXNM Energy Price Performance

TXNM Energy stock opened at $56.63 on Tuesday. The company's 50 day simple moving average is $56.67 and its 200-day simple moving average is $54.10. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 2.69 and a beta of 0.10. TXNM Energy, Inc. has a 1 year low of $40.24 and a 1 year high of $57.42. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51.

TXNM Energy (NYSE:TXNM - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. TXNM Energy's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid 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 is Friday, August 8th. TXNM Energy's dividend payout ratio is presently 84.02%.

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.

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