TXNM Energy, Inc. $TXNM Shares Bought by Credit Industriel ET Commercial

Credit Industriel ET Commercial lifted its stake in shares of TXNM Energy, Inc. (NYSE:TXNM) by 775.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,000 shares of the company’s stock after buying an additional 93,000 shares during the quarter. TXNM Energy makes up about 0.5% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 28th largest holding. Credit Industriel ET Commercial owned approximately 0.10% of TXNM Energy worth $5,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TXNM. Cape Investment Advisory Inc. bought a new position in TXNM Energy during the 2nd quarter valued at $28,000. Huntington National Bank lifted its position in shares of TXNM Energy by 1,307.0% during the second quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after purchasing an additional 562 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of TXNM Energy by 280.0% during the third quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after purchasing an additional 756 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in TXNM Energy in the second quarter worth about $67,000. Finally, Jones Financial Companies Lllp increased its holdings in TXNM Energy by 574.0% in the third quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after buying an additional 1,102 shares during the last quarter. Institutional investors own 91.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $58.00 to $61.25 in a report on Monday, October 27th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, TXNM Energy has an average rating of “Hold” and a consensus target price of $59.30.

TXNM Energy Price Performance

Shares of TXNM opened at $59.29 on Monday. TXNM Energy, Inc. has a 12 month low of $47.21 and a 12 month high of $59.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.51 and a quick ratio of 0.36. The stock has a fifty day moving average price of $58.97 and a 200 day moving average price of $57.74. The company has a market cap of $6.46 billion, a P/E ratio of 34.67, a PEG ratio of 2.53 and a beta of 0.16.

TXNM Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 30th were issued a $0.4225 dividend. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is 98.83%.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.