United Services Automobile Association Makes New Investment 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 purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,779 shares of the company's stock, valued at approximately $310,000.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of TXNM Energy by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after purchasing an additional 361,945 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of TXNM Energy by 41.4% during the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company's stock worth $190,406,000 after purchasing an additional 1,043,259 shares during the last quarter. Zimmer Partners LP acquired a new position in shares of TXNM Energy during the 4th quarter worth approximately $165,816,000. Reaves W H & Co. Inc. acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $161,678,000. Finally, Westwood Holdings Group Inc. increased its position in shares of TXNM Energy by 14.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock worth $98,323,000 after purchasing an additional 226,386 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Ratings Changes

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

TXNM Energy Stock Performance

Shares of NYSE TXNM opened at $56.85 on Friday. 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 fifty day moving average price is $56.77 and its two-hundred day moving average price is $54.89. TXNM Energy, Inc. has a one year low of $41.65 and a one year high of $57.42. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.69 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The business 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 was Friday, August 8th. TXNM Energy's dividend payout ratio is presently 84.02%.

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.

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