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

M&T Bank Corp bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,845 shares of the company’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bessemer Group Inc. purchased a new position in TXNM Energy during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc purchased a new position in TXNM Energy during the 1st quarter valued at approximately $35,000. Fifth Third Bancorp purchased a new position in TXNM Energy during the 1st quarter valued at approximately $40,000. Aster Capital Management DIFC Ltd purchased a new position in TXNM Energy during the 4th quarter valued at approximately $38,000. Finally, LRI Investments LLC purchased a new position in TXNM Energy during the 4th quarter valued at approximately $40,000. Institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

TXNM opened at $56.89 on Friday. The business has a fifty day moving average of $56.17 and a 200 day moving average of $52.69. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $57.29. 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 has a market cap of $5.27 billion, a P/E ratio of 25.28, a PEG ratio of 2.68 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last posted 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 for the quarter, compared to analysts’ expectations of $451.01 million. The business’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TXNM shares. Mizuho cut TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Siebert Williams Shank cut TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Scotiabank lifted their target price on TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 20th. Finally, Barclays reiterated an “overweight” rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. One equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.