Zurcher Kantonalbank Zurich Cantonalbank Acquires New Position in TXNM Energy, Inc. (NYSE:TXNM)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has invested approximately $1.27 million in TXNM Energy, acquiring 23,662 shares, as detailed in its recent SEC filing.
• TXNM Energy's latest earnings report revealed an Earnings Per Share (EPS) of $0.25, falling short of analysts' expectations, while revenue was slightly above forecasts at $502.42 million.
• The company announced a quarterly dividend of $0.4075 per share, indicating a yield of 2.9% with a payout ratio of 84.02%.

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 23,662 shares of the company's stock, valued at approximately $1,265,000.

Several other hedge funds and other institutional investors have also modified their holdings of TXNM. LPL Financial LLC bought a new stake in TXNM Energy in the 4th quarter valued at about $470,000. Prudential Financial Inc. bought a new stake in shares of TXNM Energy during the 4th quarter worth about $417,000. JPMorgan Chase & Co. bought a new stake in shares of TXNM Energy during the 4th quarter worth about $31,972,000. Blair William & Co. IL bought a new stake in shares of TXNM Energy during the 4th quarter worth about $211,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of TXNM Energy during the 4th quarter worth about $484,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of NYSE TXNM traded down $0.02 during midday trading on Friday, reaching $56.68. The company's stock had a trading volume of 998,606 shares, compared to its average volume of 1,285,490. The company has a current ratio of 0.51, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. The company has a 50 day moving average price of $56.63 and a 200 day moving average price of $53.56. TXNM Energy, Inc. has a one year low of $39.70 and a one year high of $57.42. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 2.70 and a beta of 0.10.

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

TXNM Energy Announces Dividend

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

Analysts Set New Price Targets

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

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.