Bank of America Corp DE lifted its position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 9.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,595 shares of the company's stock after buying an additional 27,601 shares during the period. Bank of America Corp DE owned approximately 0.28% of TXNM Energy worth $17,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in TXNM. Los Angeles Capital Management LLC acquired a new position in TXNM Energy during the fourth quarter worth $27,000. Kestra Advisory Services LLC purchased a new stake in shares of TXNM Energy in the 4th quarter valued at $74,000. EverSource Wealth Advisors LLC lifted its stake in TXNM Energy by 17.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company's stock worth $73,000 after acquiring an additional 184 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in TXNM Energy by 23.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company's stock valued at $74,000 after acquiring an additional 236 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company's stock valued at $78,000 after acquiring an additional 623 shares during the period. Hedge funds and other institutional investors own 91.68% of the company's stock.
TXNM Energy Trading Up 0.2%
NYSE:TXNM opened at $57.60 on Thursday. TXNM Energy, Inc. has a 12-month low of $55.64 and a 12-month high of $59.53. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. The stock's 50 day simple moving average is $57.34 and its 200-day simple moving average is $58.39. The firm has a market cap of $5.94 billion, a P/E ratio of 31.83, a PEG ratio of 2.48 and a beta of 0.17.
TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The company had revenue of $548.55 million for the quarter, compared to analysts' expectations of $567.00 million. Equities analysts anticipate that TXNM Energy, Inc. will post 3.07 EPS for the current year.
TXNM Energy Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were issued a $0.4225 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy's payout ratio is 93.37%.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. Wall Street Zen upgraded TXNM Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, TXNM Energy has a consensus rating of "Hold" and a consensus target price of $61.25.
Get Our Latest Stock Report on TXNM
TXNM Energy Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding TXNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TXNM Energy, Inc. (NYSE:TXNM - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider TXNM Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TXNM Energy wasn't on the list.
While TXNM Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
