Credit Industriel ET Commercial Acquires 20,274 Shares of TXNM Energy, Inc. $TXNM

Key Points

• Credit Industriel ET Commercial boosted its stake in TXNM by 19.3%, buying 20,274 shares to hold 125,274 shares, while institutional investors now own roughly 91.68% of the company.
• TXNM missed quarterly expectations, reporting EPS of $0.21 versus $0.30 expected and revenue of $504.98M (slightly below estimates) while revenue rose about 4.6% year-over-year.
• The company declared a quarterly dividend of $0.4225 (annualized $1.69, 2.9% yield) and carries a consensus analyst rating of "Hold" with a $60.88 target, though its dividend payout ratio is elevated at ~121.6%.

Credit Industriel ET Commercial boosted its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,274 shares of the company's stock after acquiring an additional 20,274 shares during the quarter. TXNM Energy makes up approximately 0.6% of Credit Industriel ET Commercial's portfolio, making the stock its 24th largest holding. Credit Industriel ET Commercial owned 0.12% of TXNM Energy worth $7,376,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in TXNM Energy by 55.4% during the third quarter. Principal Financial Group Inc. now owns 330,336 shares of the company's stock valued at $18,681,000 after purchasing an additional 117,765 shares during the last quarter. AlphaQuest LLC acquired a new position in TXNM Energy during the third quarter valued at approximately $2,880,000. Angelo Gordon & CO. L.P. acquired a new position in TXNM Energy during the third quarter valued at approximately $5,694,000. Athos Capital Ltd acquired a new position in TXNM Energy during the third quarter valued at approximately $8,078,000. Finally, Gabelli Funds LLC grew its holdings in TXNM Energy by 18.3% during the third quarter. Gabelli Funds LLC now owns 855,464 shares of the company's stock valued at $48,376,000 after purchasing an additional 132,491 shares during the last quarter. Institutional investors own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded TXNM Energy from a "sell" rating to a "hold" rating in a report on Sunday. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, TXNM Energy currently has an average rating of "Hold" and a consensus target price of $60.88.

TXNM Energy Trading Down 0.0%

Shares of TXNM stock opened at $59.17 on Wednesday. TXNM Energy, Inc. has a 12 month low of $51.59 and a 12 month high of $59.52. The company has a quick ratio of 0.38, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. The business's 50 day moving average is $58.83 and its two-hundred day moving average is $58.55. The company has a market cap of $6.55 billion, a PE ratio of 42.57, a price-to-earnings-growth ratio of 2.53 and a beta of 0.16.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). The company had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. Equities analysts predict that TXNM Energy, Inc. will post 3.09 EPS for the current year.

TXNM Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 27th will be paid a $0.4225 dividend. The ex-dividend date is Monday, April 27th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. TXNM Energy's dividend payout ratio (DPR) is presently 121.58%.

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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