Credit Industriel ET Commercial Makes New $676,000 Investment in TXNM Energy, Inc. $TXNM

Key Points

• Credit Industriel ET Commercial has made a new investment of approximately $676,000 in TXNM Energy, acquiring 12,000 shares during the 2nd quarter.
• Institutional investors hold 91.68% of TXNM Energy's stock, indicating strong interest in the company from large financial entities.
• TXNM Energy announced a quarterly dividend of $0.4075 per share to be paid on November 14th, representing an annualized yield of 2.9%.

Credit Industriel ET Commercial bought 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 filing with the SEC. The fund bought 12,000 shares of the company's stock, valued at approximately $676,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TXNM. Vanguard Group Inc. grew its holdings in TXNM Energy by 3.6% during the first quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after acquiring an additional 361,945 shares during the period. Alliancebernstein L.P. grew its holdings in TXNM Energy by 41.4% during the first quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company's stock worth $190,406,000 after acquiring an additional 1,043,259 shares during the period. Reaves W H & Co. Inc. acquired a new position in TXNM Energy during the first quarter worth $161,678,000. Westwood Holdings Group Inc. grew its stake in shares of TXNM Energy by 14.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock worth $98,323,000 after purchasing an additional 226,386 shares during the period. Finally, BROOKFIELD Corp ON acquired a new position in shares of TXNM Energy during the 1st quarter worth $94,216,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of TXNM Energy in a research note on Saturday, September 27th. Citigroup initiated coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a "neutral" rating and a $61.25 target price on the stock. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, TXNM Energy currently has an average rating of "Hold" and an average price target of $57.04.

TXNM Energy Price Performance

TXNM Energy stock opened at $56.90 on Tuesday. The firm has a market capitalization of $6.00 billion, a PE ratio of 29.33, a P/E/G ratio of 2.68 and a beta of 0.06. TXNM Energy, Inc. has a 52 week low of $42.09 and a 52 week high of $57.42. The firm's 50-day simple moving average is $56.78 and its 200 day simple moving average is $55.61. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Thursday, February 3rd. The company reported $0.15 earnings per share (EPS) for the quarter. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company had revenue of ($1,163.74) million during the quarter. On average, equities research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 24th will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, October 24th. TXNM Energy's payout ratio is currently 84.02%.

About TXNM Energy

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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