TXNM Energy, Inc. $TXNM Stock Position Decreased by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in TXNM Energy by 5.4%, now holding 5,843,927 shares, which represents 6.31% of the company, valued at approximately $312.5 million.
• Analysts have shown mixed sentiments about TXNM Energy, with Mizuho downgrading its rating from "strong-buy" to "hold" while Barclays raised its target price from $57 to $61.
• TXNM Energy recently declared a quarterly dividend of $0.4075 per share, which reflects an annualized yield of 2.9%, with a payout ratio of 84.02%.

T. Rowe Price Investment Management Inc. cut its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,843,927 shares of the company's stock after selling 333,482 shares during the period. T. Rowe Price Investment Management Inc. owned 6.31% of TXNM Energy worth $312,534,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Barclays restated an "overweight" rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Scotiabank lifted their target price on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. Finally, Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $54.86.

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $56.5350 on Thursday. TXNM Energy, Inc. has a one year low of $40.43 and a one year high of $57.42. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.68 and a beta of 0.10. 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 stock's 50-day moving average is $56.67 and its 200-day moving average is $54.13.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. The company's revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The firm 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 dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 8th. TXNM Energy's payout ratio is 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.

Want to see what other hedge funds are holding TXNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TXNM Energy, Inc. (NYSE:TXNM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.