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

Credit Industriel ET Commercial increased its holdings in TXNM Energy, Inc. (NYSE:TXNM) by 775.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 105,000 shares of the company’s stock after purchasing an additional 93,000 shares during the quarter. TXNM Energy comprises about 0.5% of Credit Industriel ET Commercial’s portfolio, making the stock its 28th biggest holding. Credit Industriel ET Commercial’s holdings in TXNM Energy were worth $5,938,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in TXNM Energy by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock worth $128,169,000 after acquiring an additional 63,240 shares during the period. Norges Bank acquired a new stake in TXNM Energy in the second quarter worth about $99,354,000. Adage Capital Partners GP L.L.C. grew its position in TXNM Energy by 83.1% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock valued at $99,279,000 after buying an additional 800,258 shares in the last quarter. Bank of New York Mellon Corp increased its stake in TXNM Energy by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,225,977 shares of the company’s stock valued at $69,047,000 after buying an additional 32,959 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of TXNM Energy by 397.2% during the 2nd quarter. Balyasny Asset Management L.P. now owns 908,507 shares of the company’s stock worth $51,167,000 after buying an additional 725,794 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Jefferies Financial Group cut TXNM Energy from a “buy” rating to a “hold” rating and lifted their price target for the company from $58.00 to $61.25 in a research report on Monday, October 27th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.30.

TXNM Energy Price Performance

Shares of NYSE:TXNM opened at $59.29 on Monday. The company has a market capitalization of $6.46 billion, a PE ratio of 34.67, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. The stock has a fifty day moving average of $58.97 and a 200-day moving average of $57.74. TXNM Energy, Inc. has a one year low of $47.21 and a one year high of $59.52.

TXNM Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were given a $0.4225 dividend. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, January 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is 98.83%.

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.