TXNM Energy, Inc. $TXNM Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 6,131.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,061 shares of the company’s stock after purchasing an additional 42,370 shares during the period. Fifth Third Bancorp’s holdings in TXNM Energy were worth $2,517,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of TXNM Energy by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock worth $700,631,000 after buying an additional 330,382 shares during the last quarter. Balyasny Asset Management L.P. raised its position in TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank purchased a new position in TXNM Energy in the fourth quarter worth $182,061,000. Geode Capital Management LLC lifted its holdings in TXNM Energy by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company’s stock valued at $151,378,000 after acquiring an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in TXNM Energy by 53.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company’s stock valued at $113,704,000 after acquiring an additional 668,929 shares during the period. Institutional investors and hedge funds own 91.68% of the company’s stock.

TXNM Energy Trading Up 0.8%

NYSE:TXNM opened at $57.85 on Tuesday. The company has a market capitalization of $6.40 billion, a PE ratio of 41.62, a price-to-earnings-growth ratio of 2.48 and a beta of 0.17. TXNM Energy, Inc. has a 52-week low of $55.64 and a 52-week high of $59.53. The stock has a fifty day simple moving average of $57.96 and a 200-day simple moving average of $58.60. 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 (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). The business had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities research analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $1.145 per share. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $4.58 dividend on an annualized basis and a dividend yield of 7.9%. TXNM Energy’s dividend payout ratio is 121.58%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXNM. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, TXNM Energy presently has an average rating of “Hold” and a consensus target price of $61.25.

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. 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.