11,880 Shares in TXNM Energy, Inc. $TXNM Purchased by Wesbanco Bank Inc.

Key Points

• Wesbanco Bank Inc. acquired 11,880 shares of TXNM Energy, valued at approximately $669,000, as part of a recent position during the second quarter.
• TXNM Energy announced a quarterly dividend of $0.4075 per share, reflecting a 2.9% yield and an annualized payout of $1.63.
• Despite a miss in earnings per share (EPS) of $0.25, TXNM Energy reported a revenue increase of 2.9% for the quarter, totaling $502.42 million.

Wesbanco Bank Inc. purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,880 shares of the company's stock, valued at approximately $669,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hughes Financial Services LLC purchased a new position in shares of TXNM Energy in the 1st quarter valued at about $25,000. Versant Capital Management Inc acquired a new stake in TXNM Energy in the 1st quarter worth about $35,000. Fifth Third Bancorp acquired a new stake in TXNM Energy in the 1st quarter worth about $40,000. Financial Gravity Asset Management Inc. acquired a new stake in TXNM Energy in the 1st quarter worth about $41,000. Finally, Smartleaf Asset Management LLC acquired a new stake in TXNM Energy in the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

TXNM Energy Stock Down 0.2%

Shares of TXNM Energy stock traded down $0.13 during trading hours on Friday, reaching $56.59. 2,465,487 shares of the company were exchanged, compared to its average volume of 744,019. TXNM Energy, Inc. has a 1 year low of $42.09 and a 1 year high of $57.42. The stock's fifty day moving average is $56.81 and its 200 day moving average is $55.06. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. The firm has a market cap of $5.96 billion, a PE ratio of 29.17, a PEG ratio of 2.68 and a beta of 0.09.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). The company had revenue of $502.42 million for the quarter, compared to analysts' expectations of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.4075 per share. The ex-dividend date was Friday, August 8th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy's payout ratio is presently 84.02%.

Analysts Set New Price Targets

Separately, Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.86.

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.