23,662 Shares in TXNM Energy, Inc. (NYSE:TXNM) Bought by Zurcher Kantonalbank Zurich Cantonalbank

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 acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 23,662 shares of the company's stock, valued at approximately $1,265,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hughes Financial Services LLC acquired a new position in shares of TXNM Energy in the 1st quarter worth $25,000. Bessemer Group Inc. acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc bought a new position in TXNM Energy during the first quarter valued at about $35,000. Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy during the fourth quarter worth approximately $38,000. Finally, LRI Investments LLC acquired a new position in TXNM Energy in the 4th quarter valued at $40,000. 91.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on TXNM shares. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays reissued an "overweight" rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Siebert Williams Shank cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Scotiabank raised their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $54.86.

TXNM Energy Price Performance

Shares of TXNM stock traded up $0.20 during trading on Wednesday, hitting $57.03. The company had a trading volume of 1,288,886 shares, compared to its average volume of 1,277,107. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 26.19, a price-to-earnings-growth ratio of 2.69 and a beta of 0.10. The company has a quick ratio of 0.19, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. TXNM Energy, Inc. has a 52 week low of $39.70 and a 52 week high of $57.42. The stock's 50-day moving average is $56.62 and its two-hundred day moving average is $53.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced 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 return on equity of 7.34% and a net margin of 8.75%. The firm had revenue of $502.42 million during the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy's revenue was up 2.9% on a year-over-year basis. As a group, analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders 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 dividend yield of 2.9%. TXNM Energy's payout ratio is currently 84.02%.

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.