PNC Financial Services Group Inc. Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

PNC Financial Services Group Inc. acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 1st quarter, Holdings Channel reports. The firm acquired 7,285 shares of the company’s stock, valued at approximately $390,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new stake in TXNM Energy during the 1st quarter worth approximately $11,181,000. Allspring Global Investments Holdings LLC purchased a new stake in TXNM Energy during the 1st quarter worth approximately $878,000. New York State Teachers Retirement System purchased a new stake in TXNM Energy during the 1st quarter worth approximately $4,682,000. KBC Group NV purchased a new stake in TXNM Energy during the 1st quarter worth approximately $188,000. Finally, Amalgamated Bank purchased a new stake in TXNM Energy during the 1st quarter worth approximately $2,135,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TXNM. Siebert Williams Shank downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Scotiabank boosted their price target on TXNM Energy from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Tuesday, May 20th. Mizuho downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Finally, Barclays reiterated an “overweight” rating and issued a $61.00 price target (up 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 given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $54.86.

TXNM Energy Price Performance

Shares of TXNM opened at $56.94 on Friday. The company has a market cap of $6.00 billion, a P/E ratio of 29.35, a PEG ratio of 2.70 and a beta of 0.10. The stock has a fifty day moving average price of $56.67 and a 200 day moving average price of $53.89. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. TXNM Energy, Inc. has a 12 month low of $40.04 and a 12 month high of $57.42.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.21). The company had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

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