PNC Financial Services Group Inc. acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,285 shares of the company’s stock, valued at approximately $390,000.
Other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter valued at about $303,744,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter valued at about $189,170,000. Zimmer Partners LP acquired a new stake in shares of TXNM Energy during the 4th quarter valued at about $165,816,000. Point72 Asset Management L.P. acquired a new stake in shares of TXNM Energy during the 4th quarter valued at about $84,090,000. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter valued at about $79,268,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.
TXNM Energy Stock Performance
Shares of TXNM stock traded down $0.16 during trading on Friday, reaching $56.82. The company had a trading volume of 1,354,671 shares, compared to its average volume of 1,123,162. The firm’s 50 day simple moving average is $56.67 and its two-hundred day simple moving average is $54.00. 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 one year low of $40.24 and a one year high of $57.42. The company has a market capitalization of $5.99 billion, a PE ratio of 26.22, a PEG ratio of 2.69 and a beta of 0.10.
TXNM Energy (NYSE:TXNM – Get Free Report) 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). The business had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Sell-side analysts forecast 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 payout ratio is currently 84.02%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on TXNM shares. Mizuho lowered TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Barclays reissued an “overweight” rating and issued a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Siebert Williams Shank downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 23rd. Finally, Scotiabank raised their price objective on TXNM Energy from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, TXNM Energy presently has an average rating of “Hold” and a consensus price target of $54.86.
Get Our Latest Stock Report on TXNM
TXNM Energy 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.
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