Credit Industriel ET Commercial Grows Holdings in TXNM Energy, Inc. $TXNM

Credit Industriel ET Commercial lifted its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 23.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,653 shares of the company’s stock after buying an additional 29,379 shares during the quarter. TXNM Energy makes up 0.7% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 13th largest position. Credit Industriel ET Commercial owned about 0.14% of TXNM Energy worth $9,041,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Angelo Gordon & CO. L.P. purchased a new stake in TXNM Energy in the 3rd quarter worth approximately $5,694,000. Alpine Global Management LLC purchased a new position in shares of TXNM Energy during the 3rd quarter worth $1,414,000. Tudor Investment Corp ET AL boosted its holdings in shares of TXNM Energy by 35.1% during the third quarter. Tudor Investment Corp ET AL now owns 270,120 shares of the company’s stock worth $15,275,000 after purchasing an additional 70,120 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of TXNM Energy by 105.0% during the fourth quarter. SG Americas Securities LLC now owns 24,279 shares of the company’s stock worth $1,430,000 after purchasing an additional 12,434 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new stake in shares of TXNM Energy in the third quarter valued at $3,300,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

TXNM Energy Stock Up 0.9%

Shares of NYSE TXNM opened at $57.15 on Tuesday. The firm has a fifty day moving average of $58.36 and a 200-day moving average of $58.73. The stock has a market capitalization of $6.33 billion, a PE ratio of 41.11, a P/E/G ratio of 2.46 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 1st. The company reported $0.21 earnings per share 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 for the quarter, compared to analyst estimates of $506.24 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. On average, analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Increases Dividend

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

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. 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.