United Services Automobile Association Purchases New Stake in TXNM Energy, Inc. $TXNM

Key Points

• United Services Automobile Association has acquired a new position in TXNM Energy, Inc., purchasing 5,779 shares valued at approximately $310,000 during the first quarter.
• TXNM Energy's recent quarterly earnings showed a miss in EPS at $0.25 compared to the expected $0.46, but revenue increased by 2.9% year-over-year.
• The company declared a quarterly dividend of $0.4075 per share, resulting in an annualized yield of 2.9% based on its current payout ratio of 84.02%.

United Services Automobile Association bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,779 shares of the company's stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Resolution Capital Ltd raised its position in TXNM Energy by 17.4% during the first quarter. Resolution Capital Ltd now owns 145,954 shares of the company's stock worth $7,806,000 after acquiring an additional 21,621 shares during the last quarter. Nexpoint Asset Management L.P. raised its position in TXNM Energy by 108.3% during the first quarter. Nexpoint Asset Management L.P. now owns 16,350 shares of the company's stock worth $874,000 after acquiring an additional 8,500 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of TXNM Energy by 12.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,758 shares of the company's stock worth $3,410,000 after buying an additional 6,857 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of TXNM Energy by 41.4% during the first quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company's stock worth $190,406,000 after buying an additional 1,043,259 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of TXNM Energy by 8.2% in the first quarter. AQR Capital Management LLC now owns 179,818 shares of the company's stock valued at $9,597,000 after buying an additional 13,682 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Stock Up 0.1%

Shares of NYSE TXNM traded up $0.07 during trading on Thursday, reaching $56.68. 905,224 shares of the stock were exchanged, compared to its average volume of 731,816. The business's 50-day moving average price is $56.80 and its 200 day moving average price is $55.03. TXNM Energy, Inc. has a twelve month low of $42.09 and a twelve month high of $57.42. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $5.97 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 2.68 and a beta of 0.09.

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 analysts' consensus estimates of $0.46 by ($0.21). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The firm had revenue of $502.42 million for the quarter, compared to analyst estimates of $493.90 million. TXNM Energy's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 8th. TXNM Energy's payout ratio is presently 84.02%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Barclays reissued an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research 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 research report on Friday, May 23rd. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.