Bank of New York Mellon Corp Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

Bank of New York Mellon Corp bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,193,018 shares of the company's stock, valued at approximately $63,803,000. Bank of New York Mellon Corp owned approximately 1.29% of TXNM Energy as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter valued at $27,000. Versant Capital Management Inc acquired a new position in TXNM Energy during the 1st quarter worth approximately $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $38,000. LRI Investments LLC bought a new stake in TXNM Energy in the 4th quarter valued at $40,000. Finally, Fifth Third Bancorp bought a new position in TXNM Energy during the 1st quarter worth $40,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Trading Down 0.0%

NYSE TXNM traded down $0.02 during trading hours on Tuesday, hitting $56.66. 1,259,695 shares of the company were exchanged, compared to its average volume of 1,034,677. The stock has a 50-day moving average price of $55.86 and a 200 day moving average price of $52.52. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 52 week low of $39.60 and a 52 week high of $57.29. The stock has a market cap of $5.25 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.66 and a beta of 0.13.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $482.79 million during the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. Analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TXNM. Scotiabank raised their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report 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. Finally, Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price 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.