Bank of New York Mellon Corp Purchases New Holdings in TXNM Energy, Inc. $TXNM

Key Points

• Bank of New York Mellon acquired 743,474 TXNM Energy shares worth approximately $42.2 million, giving it a 0.72% stake. Institutional investors collectively own 91.68% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $61.25. TXNM recently beat quarterly EPS expectations, reporting $0.58 versus the $0.56 consensus, though revenue fell short of forecasts.
• TXNM declared a quarterly dividend of $0.4225 per share, equal to a 2.9% yield and a high 93.37% payout ratio; the stock recently traded near $57.55.

Bank of New York Mellon Corp acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 743,474 shares of the company's stock, valued at approximately $42,214,000. Bank of New York Mellon Corp owned approximately 0.72% of TXNM Energy at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in TXNM Energy by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company's stock valued at $700,631,000 after buying an additional 330,382 shares during the last quarter. UBS Group AG boosted its holdings in TXNM Energy by 54.2% in the fourth quarter. UBS Group AG now owns 1,244,976 shares of the company's stock worth $73,304,000 after acquiring an additional 437,727 shares in the last quarter. Bank of America Corp DE grew its stake in shares of TXNM Energy by 9.9% in the first quarter. Bank of America Corp DE now owns 305,595 shares of the company's stock worth $17,865,000 after acquiring an additional 27,601 shares during the last quarter. Credit Industriel ET Commercial grew its stake in shares of TXNM Energy by 19.3% in the fourth quarter. Credit Industriel ET Commercial now owns 125,274 shares of the company's stock worth $7,376,000 after acquiring an additional 20,274 shares during the last quarter. Finally, Groupe la Francaise increased its holdings in shares of TXNM Energy by 161.2% during the first quarter. Groupe la Francaise now owns 311,832 shares of the company's stock valued at $18,230,000 after acquiring an additional 192,446 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

TXNM has been the subject of several recent analyst reports. Weiss Ratings raised TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of TXNM Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $61.25.

TXNM Energy Stock Up 0.0%

TXNM stock opened at $57.55 on Friday. TXNM Energy, Inc. has a 1-year low of $55.64 and a 1-year high of $59.53. The business has a fifty day moving average price of $57.39 and a 200-day moving average price of $58.32. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The stock has a market capitalization of $5.93 billion, a P/E ratio of 31.79, a P/E/G ratio of 2.48 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The company reported $0.58 EPS for the quarter, beating 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 forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy's dividend payout ratio is presently 93.37%.

TXNM Energy 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. 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.

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