TXNM Energy, Inc. $TXNM Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in TXNM Energy, Inc. (NYSE:TXNM) by 3.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 753,314 shares of the company’s stock after selling 23,883 shares during the period. Bank of New York Mellon Corp’s holdings in TXNM Energy were worth $44,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TXNM. Los Angeles Capital Management LLC bought a new position in TXNM Energy during the 4th quarter worth $27,000. Kestra Advisory Services LLC bought a new stake in TXNM Energy in the fourth quarter valued at $74,000. Smartleaf Asset Management LLC lifted its stake in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after buying an additional 236 shares during the last quarter. Larson Financial Group LLC boosted its stake in TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after purchasing an additional 623 shares during the period. Finally, Farther Finance Advisors LLC grew its position in TXNM Energy by 22.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock worth $86,000 after purchasing an additional 268 shares during the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TXNM. Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Wall Street Zen lowered TXNM Energy from a “hold” rating to a “sell” rating in a research note on Sunday, July 5th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Stock Up 0.1%

NYSE:TXNM opened at $58.34 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 2.51 and a beta of 0.17. The business’s fifty day moving average price is $57.87 and its 200 day moving average price is $58.59. TXNM Energy, Inc. has a 1-year low of $55.64 and a 1-year high of $59.53.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The firm had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. During the same quarter last year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy’s dividend payout ratio is currently 121.58%.

About TXNM Energy

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.