Bank of New York Mellon Corp Boosts Holdings in TXNM Energy, Inc. $TXNM

Bank of New York Mellon Corp grew its stake in TXNM Energy, Inc. (NYSE:TXNM) by 2.8% during the 2nd quarter, Holdings Channel reports. The firm owned 1,225,977 shares of the company’s stock after purchasing an additional 32,959 shares during the quarter. Bank of New York Mellon Corp’s holdings in TXNM Energy were worth $69,047,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in TXNM Energy in the 1st quarter valued at about $670,000. Principal Financial Group Inc. acquired a new position in shares of TXNM Energy during the first quarter valued at approximately $11,181,000. Envestnet Asset Management Inc. lifted its position in shares of TXNM Energy by 3.8% in the first quarter. Envestnet Asset Management Inc. now owns 107,498 shares of the company’s stock valued at $5,749,000 after acquiring an additional 3,917 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of TXNM Energy in the first quarter worth approximately $276,000. Finally, M&T Bank Corp purchased a new stake in shares of TXNM Energy during the first quarter worth approximately $259,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

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

TXNM Energy Stock Up 0.4%

Shares of TXNM opened at $57.30 on Monday. TXNM Energy, Inc. has a 52-week low of $44.50 and a 52-week high of $57.42. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. The stock has a fifty day simple moving average of $56.84 and a two-hundred day simple moving average of $56.29. 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.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) 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 prior year, the company posted $1.43 EPS. As a group, equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 24th will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, October 24th. TXNM Energy’s payout ratio is presently 95.32%.

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.