Bank of New York Mellon Corp Increases Stake in TXNM Energy, Inc. $TXNM

Bank of New York Mellon Corp boosted its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,225,977 shares of the company’s stock after purchasing an additional 32,959 shares during the period. Bank of New York Mellon Corp owned approximately 1.16% of TXNM Energy worth $69,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy during the first quarter worth $25,000. Smartleaf Asset Management LLC acquired a new stake in TXNM Energy during the 1st quarter worth about $43,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in TXNM Energy during the 1st quarter valued at about $54,000. Twin Tree Management LP purchased a new stake in TXNM Energy during the 1st quarter valued at about $58,000. Finally, MorganRosel Wealth Management LLC acquired a new position in shares of TXNM Energy in the second quarter valued at about $67,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Stock Performance

Shares of NYSE TXNM opened at $57.30 on Monday. The company has a market capitalization of $6.24 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. The company’s fifty day moving average price is $56.84 and its 200 day moving average price is $56.29. TXNM Energy, Inc. has a 1 year low of $44.50 and a 1 year high of $57.42.

TXNM Energy (NYSE:TXNM) last released 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 net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. During the same period in the previous year, the firm posted $1.43 EPS. On average, research analysts predict 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, November 14th. Investors of record on Friday, October 24th will be issued a $0.4075 dividend. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a yield of 2.8%. TXNM Energy’s dividend payout ratio is presently 95.32%.

Analyst Upgrades and Downgrades

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

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.