Vanguard Group Inc. Increases Holdings in TXNM Energy, Inc. $TXNM

Key Points

• Vanguard Group increased its stake in TXNM by 2.9% in Q4 to 11,899,308 shares, now owning about 10.92% of the company (≈$700.6M), and institutional investors hold roughly 91.7% of the stock.
• TXNM missed quarterly expectations, reporting $0.21 EPS vs. $0.30 expected and $504.98M in revenue (vs. $506.24M), though revenue was up 4.6% year-over-year.
• The company declared a quarterly dividend of $0.4225 (annualized $1.69, yield 2.9%) but has a high payout ratio of 115.75%; Wall Street consensus is a Hold with an average price target of $60.88.

Vanguard Group Inc. lifted its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,899,308 shares of the company's stock after buying an additional 330,382 shares during the period. Vanguard Group Inc. owned about 10.92% of TXNM Energy worth $700,631,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in shares of TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company's stock valued at $58,000 after buying an additional 756 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of TXNM Energy by 574.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company's stock valued at $73,000 after buying an additional 1,102 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company's stock valued at $78,000 after buying an additional 623 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of TXNM Energy by 22.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock valued at $86,000 after buying an additional 268 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of TXNM Energy by 215.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company's stock valued at $86,000 after buying an additional 1,043 shares in the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $59.21 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.55 and a quick ratio of 0.38. The business's 50 day simple moving average is $58.83 and its two-hundred day simple moving average is $58.53. The stock has a market capitalization of $6.56 billion, a P/E ratio of 42.60, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16. TXNM Energy, Inc. has a one year low of $51.59 and a one year high of $59.52.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.09). The company had revenue of $504.98 million during the quarter, compared to analysts' expectations of $506.24 million. TXNM Energy had a return on equity of 7.25% and a net margin of 6.96%.TXNM Energy's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. Analysts forecast that TXNM Energy, Inc. will post 3.09 EPS for the current year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be paid a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy's payout ratio is 115.75%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised TXNM Energy from a "sell" rating to a "hold" rating in a research note on Sunday. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $60.88.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.

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