Charles Schwab Investment Management Inc. Purchases New Holdings in TXNM Energy, Inc. (NYSE:TXNM)

Charles Schwab Investment Management Inc. bought a new position in TXNM Energy, Inc. (NYSE:TXNM) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,253,768 shares of the company’s stock, valued at approximately $67,052,000. Charles Schwab Investment Management Inc. owned approximately 1.35% of TXNM Energy at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Federated Hermes Inc. lifted its stake in TXNM Energy by 4.9% in the 1st quarter. Federated Hermes Inc. now owns 6,115 shares of the company’s stock worth $327,000 after purchasing an additional 285 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $25,000. Cetera Investment Advisers increased its holdings in shares of TXNM Energy by 10.1% during the 1st quarter. Cetera Investment Advisers now owns 5,281 shares of the company’s stock worth $282,000 after buying an additional 486 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter worth approximately $27,000. Finally, Versant Capital Management Inc acquired a new stake in shares of TXNM Energy during the 1st quarter worth approximately $35,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Down 0.2%

TXNM Energy stock opened at $56.94 on Friday. 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, Inc. has a fifty-two week low of $40.04 and a fifty-two week high of $57.42. The company has a market capitalization of $6.00 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.70 and a beta of 0.10. The firm has a 50 day moving average price of $56.67 and a 200 day moving average price of $53.89.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The business had revenue of $502.42 million during the quarter, compared to analysts’ expectations of $493.90 million. TXNM Energy’s revenue was up 2.9% on a year-over-year basis. Research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current 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 $0.4075 dividend. 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 (DPR) is currently 84.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TXNM. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Siebert Williams Shank downgraded shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Scotiabank raised their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 20th. Barclays reiterated an “overweight” rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Finally, Mizuho downgraded shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” 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.