PNC Financial Services Group Inc. Purchases Shares of 7,285 TXNM Energy, Inc. (NYSE:TXNM)

Key Points

• PNC Financial Services Group Inc. purchased 7,285 shares of TXNM Energy, Inc. valued at approximately $390,000 in the first quarter.
• TXNM Energy recently declared a quarterly dividend of $0.4075 per share with a yield of 2.9%, set to be paid on August 22nd.
• Analysts have mixed ratings on TXNM, with one sell rating, four hold ratings, and four buy ratings, resulting in an average rating of "Hold" with a consensus price target of $54.86.

PNC Financial Services Group Inc. purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,285 shares of the company's stock, valued at approximately $390,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in TXNM Energy in the 1st quarter valued at about $11,181,000. Allspring Global Investments Holdings LLC purchased a new stake in TXNM Energy in the 1st quarter valued at about $878,000. New York State Teachers Retirement System purchased a new stake in TXNM Energy in the 1st quarter valued at about $4,682,000. KBC Group NV purchased a new stake in TXNM Energy in the 1st quarter valued at about $188,000. Finally, Amalgamated Bank acquired a new position in shares of TXNM Energy in the 1st quarter valued at about $2,135,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TXNM. Scotiabank lifted their price objective 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. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Barclays reaffirmed an "overweight" rating and issued a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $54.86.

TXNM Energy Stock Performance

TXNM Energy stock opened at $56.94 on Friday. The stock's 50 day moving average price is $56.67 and its 200 day moving average price is $53.89. The firm has a market capitalization of $6.00 billion, a PE ratio of 29.35, a price-to-earnings-growth ratio of 2.70 and a beta of 0.10. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy, Inc. has a one year low of $40.04 and a one year high of $57.42.

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

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a dividend of $0.4075 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.63 annualized dividend and a yield of 2.9%. TXNM Energy's payout ratio is 84.02%.

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.

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