Comerica Bank Purchases Shares of 65,751 TXNM Energy, Inc. (NYSE:TXNM)

Comerica Bank bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 65,751 shares of the company's stock, valued at approximately $3,233,000. Comerica Bank owned approximately 0.07% of TXNM Energy as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bessemer Group Inc. acquired a new stake in TXNM Energy in the 4th quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $38,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $48,000. NewEdge Advisors LLC bought a new position in TXNM Energy in the 4th quarter worth approximately $53,000. Finally, CIBC Private Wealth Group LLC acquired a new position in TXNM Energy during the 4th quarter worth $83,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TXNM has been the topic of a number of recent research reports. Scotiabank lifted their target price on TXNM Energy from $52.00 to $55.00 and gave the company a "sector perform" rating in a research note on Monday, February 24th. Mizuho upgraded TXNM Energy from a "neutral" rating to an "outperform" rating and set a $53.00 price target on the stock in a report on Tuesday, March 11th. Barclays boosted their price objective on TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, March 18th. Finally, Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and raised their target price for the company from $51.00 to $54.00 in a research note on Tuesday, February 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $53.57.

TXNM Energy Trading Up 0.7%

Shares of TXNM Energy stock traded up $0.35 during trading on Tuesday, reaching $53.35. 186,113 shares of the company were exchanged, compared to its average volume of 853,331. The business has a 50-day moving average price of $52.43 and a 200-day moving average price of $49.70. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 27.79, a P/E/G ratio of 6.12 and a beta of 0.11. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $56.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be paid a $0.4075 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.63 dividend on an annualized basis and a yield of 3.06%. TXNM Energy's payout ratio is 72.44%.

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.