Credit Industriel ET Commercial Purchases Shares of 12,000 TXNM Energy, Inc. $TXNM

Credit Industriel ET Commercial acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 12,000 shares of the company’s stock, valued at approximately $676,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Reaves W H & Co. Inc. purchased a new stake in TXNM Energy during the first quarter worth approximately $161,678,000. BROOKFIELD Corp ON acquired a new stake in TXNM Energy during the first quarter worth approximately $94,216,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of TXNM Energy during the 1st quarter worth approximately $67,052,000. Bank of New York Mellon Corp purchased a new stake in shares of TXNM Energy during the 1st quarter worth approximately $63,803,000. Finally, Victory Capital Management Inc. acquired a new position in shares of TXNM Energy in the 1st quarter valued at $61,186,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup started coverage on shares of TXNM Energy in a research note on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Weiss Ratings upgraded shares of TXNM Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. Finally, Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the company from $58.00 to $61.25 in a research note on Monday, October 27th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $57.64.

TXNM Energy Stock Up 0.4%

TXNM opened at $57.30 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. TXNM Energy, Inc. has a 12 month low of $44.50 and a 12 month high of $57.42. The stock has a market capitalization of $6.24 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.69 and a beta of 0.13. The business has a 50 day simple moving average of $56.84 and a 200-day simple moving average of $56.25.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The business had revenue of $647.16 million for the quarter, compared to analyst estimates of $608.65 million. During the same period in the prior year, the company earned $1.43 EPS. On average, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be issued a $0.4075 dividend. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, October 24th. TXNM Energy’s dividend payout ratio (DPR) is currently 95.32%.

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.