New York State Common Retirement Fund Takes $1.49 Million Position in TXNM Energy, Inc. (NYSE:TXNM)

New York State Common Retirement Fund acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 27,941 shares of the company's stock, valued at approximately $1,494,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC bought a new stake in shares of TXNM Energy in the first quarter worth about $2,483,000. Arizona State Retirement System bought a new stake in shares of TXNM Energy in the first quarter worth about $1,315,000. Ballentine Partners LLC bought a new stake in shares of TXNM Energy in the first quarter worth about $361,000. State of Michigan Retirement System bought a new stake in shares of TXNM Energy in the first quarter worth about $1,155,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of TXNM Energy in the first quarter worth about $41,000. Institutional investors own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TXNM. Barclays restated an "overweight" rating and issued a $61.00 price target (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Scotiabank increased their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $54.86.

TXNM Energy Stock Down 0.5%

Shares of NYSE:TXNM traded down $0.27 during mid-day trading on Monday, reaching $56.83. 1,883,440 shares of the stock were exchanged, compared to its average volume of 1,227,963. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The stock's 50 day simple moving average is $56.58 and its 200-day simple moving average is $53.14. The company has a market cap of $5.99 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.70 and a beta of 0.13. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $57.42.

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

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a $0.4075 dividend. The ex-dividend date is Friday, August 8th. This represents a $1.63 dividend on an annualized basis and a yield of 2.87%. TXNM Energy's dividend payout ratio is 72.44%.

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.