M&T Bank Corp Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

M&T Bank Corp acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,845 shares of the company's stock, valued at approximately $259,000.

Several other institutional investors have also recently bought and sold shares of the business. Crossmark Global Holdings Inc. bought a new position in TXNM Energy in the 1st quarter valued at $276,000. Envestnet Asset Management Inc. raised its position in shares of TXNM Energy by 3.8% during the first quarter. Envestnet Asset Management Inc. now owns 107,498 shares of the company's stock worth $5,749,000 after acquiring an additional 3,917 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of TXNM Energy during the first quarter worth $63,803,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of TXNM Energy during the first quarter worth $25,657,000. Finally, Principal Financial Group Inc. bought a new stake in shares of TXNM Energy during the first quarter worth $11,181,000. Institutional investors own 91.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on TXNM shares. Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Scotiabank boosted their target price 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. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and set a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $54.86.

TXNM Energy Trading Down 0.5%

TXNM traded down $0.30 during midday trading on Tuesday, hitting $57.07. 1,201,151 shares of the company were exchanged, compared to its average volume of 1,041,237. The firm has a market capitalization of $5.29 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.71 and a beta of 0.13. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $57.51. The firm's 50 day moving average price is $56.17 and its 200-day moving average price is $52.74. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. The business had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. TXNM Energy's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

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.