TXNM Energy, Inc. $TXNM Shares Purchased by Credit Industriel ET Commercial

Credit Industriel ET Commercial lifted its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 23.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,653 shares of the company’s stock after purchasing an additional 29,379 shares during the quarter. TXNM Energy comprises about 0.7% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 13th largest holding. Credit Industriel ET Commercial’s holdings in TXNM Energy were worth $9,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy in the fourth quarter valued at $27,000. Kestra Advisory Services LLC acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $74,000. Smartleaf Asset Management LLC boosted its holdings in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares in the last quarter. Larson Financial Group LLC increased 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 acquiring an additional 623 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in 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 purchasing an additional 268 shares during the period. Institutional investors own 91.68% of the company’s stock.

Analysts Set New Price Targets

TXNM has been the topic of several research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Sunday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Trading Up 0.9%

NYSE TXNM opened at $57.15 on Tuesday. The firm has a market cap of $6.33 billion, a P/E ratio of 41.11, a P/E/G ratio of 2.46 and a beta of 0.17. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.36. The stock’s 50-day moving average is $58.36 and its 200-day moving average is $58.73. TXNM Energy, Inc. has a one year low of $55.64 and a one year high of $59.53.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. TXNM Energy’s revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $1.145 per share. The ex-dividend date is Tuesday, June 30th. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. This represents a $4.58 dividend on an annualized basis and a dividend yield of 8.0%. TXNM Energy’s dividend payout ratio (DPR) is 121.58%.

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. 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.