11,880 Shares in TXNM Energy, Inc. $TXNM Acquired 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) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 11,880 shares of the company's stock, valued at approximately $669,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its holdings in shares of TXNM Energy by 4.9% in the 1st quarter. Federated Hermes Inc. now owns 6,115 shares of the company's stock valued at $327,000 after buying an additional 285 shares during the period. Baird Financial Group Inc. raised its holdings in TXNM Energy by 6.0% during the first quarter. Baird Financial Group Inc. now owns 5,095 shares of the company's stock worth $272,000 after purchasing an additional 287 shares during the last quarter. Hughes Financial Services LLC acquired a new position in TXNM Energy during the first quarter worth $25,000. Cetera Investment Advisers increased its position in TXNM Energy by 10.1% during the first quarter. Cetera Investment Advisers now owns 5,281 shares of the company's stock worth $282,000 after buying an additional 486 shares in the last quarter. Finally, Versant Capital Management Inc purchased a new position in TXNM Energy during the first quarter worth $35,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $56.90 on Tuesday. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.69 and a beta of 0.09. TXNM Energy, Inc. has a 1-year low of $42.09 and a 1-year high of $57.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. The business has a 50-day moving average of $56.78 and a 200-day moving average of $54.97.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). The business had revenue of $502.42 million during the quarter, compared to analysts' expectations of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. TXNM Energy's quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TXNM. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Scotiabank upped their target price on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. Finally, Barclays reiterated an "overweight" rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.86.

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.

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