Credit Industriel ET Commercial Acquires New Stake in TXNM Energy, Inc. $TXNM

Credit Industriel ET Commercial acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the second quarter, HoldingsChannel reports. The institutional investor acquired 12,000 shares of the company’s stock, valued at approximately $676,000.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of TXNM Energy by 15.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,331 shares of the company’s stock worth $75,000 after purchasing an additional 183 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of TXNM Energy by 4.2% in the second quarter. IFM Investors Pty Ltd now owns 6,630 shares of the company’s stock valued at $373,000 after buying an additional 266 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of TXNM Energy by 4.9% during the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company’s stock valued at $327,000 after buying an additional 285 shares during the period. Baird Financial Group Inc. boosted its position in TXNM Energy by 6.0% during the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company’s stock worth $272,000 after acquiring an additional 287 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in TXNM Energy during the first quarter worth approximately $25,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TXNM. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research report on Saturday, September 27th. Citigroup began coverage on TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $57.04.

TXNM Energy Price Performance

TXNM opened at $56.90 on Tuesday. The company’s 50 day simple moving average is $56.78 and its 200 day simple moving average is $55.61. 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 1 year low of $42.09 and a 1 year high of $57.42. The stock has a market capitalization of $6.00 billion, a PE ratio of 29.33, a P/E/G ratio of 2.68 and a beta of 0.06.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Thursday, February 3rd. The company reported $0.15 earnings per share for the quarter. The company had revenue of ($1,163.74) million for the quarter. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be issued a $0.4075 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is presently 84.02%.

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.