Federation des caisses Desjardins du Quebec Acquires 15,942 Shares of TXNM Energy, Inc. $TXNM

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in TXNM Energy by 55.3%, acquiring an additional 15,942 shares, raising their total holdings to 44,780 shares valued at approximately $2.4 million.
• Several institutional investors have also adjusted their positions in TXNM Energy, with 91.68% of the stock now held by these investors, indicating a strong interest in the company.
• The stock currently has an average rating of "Moderate Buy" with a price target of $54.86, following recent downgrades from multiple analysts, signaling mixed sentiment in the market.

Federation des caisses Desjardins du Quebec increased its holdings in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) by 55.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,780 shares of the company's stock after acquiring an additional 15,942 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in TXNM Energy were worth $2,395,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TXNM. Hughes Financial Services LLC acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $25,000. Versant Capital Management Inc acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $35,000. LRI Investments LLC acquired a new position in shares of TXNM Energy during the 4th quarter worth approximately $40,000. Fifth Third Bancorp acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $40,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of TXNM Energy during the 1st quarter worth approximately $41,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of NYSE:TXNM traded up $0.06 during trading on Wednesday, reaching $56.90. 601,332 shares of the company traded hands, compared to its average volume of 1,240,302. The company's 50 day moving average is $56.73 and its two-hundred day moving average is $54.81. The firm has a market capitalization of $6.00 billion, a PE ratio of 29.33, a PEG ratio of 2.68 and a beta of 0.09. 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, Inc. has a 52 week low of $40.47 and a 52 week high of $57.42.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). The company had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a dividend of $0.4075 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, August 8th. TXNM Energy's dividend payout ratio is presently 84.02%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TXNM shares. Barclays reissued an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Scotiabank boosted their price target on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.