Federated Hermes Inc. Boosts Stock Position in TXNM Energy, Inc. (NYSE:TXNM)

Federated Hermes Inc. increased its stake in TXNM Energy, Inc. (NYSE:TXNM) by 4.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,115 shares of the company’s stock after buying an additional 285 shares during the period. Federated Hermes Inc.’s holdings in TXNM Energy were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TXNM. T. Rowe Price Investment Management Inc. purchased a new stake in TXNM Energy during the 4th quarter valued at $303,744,000. FMR LLC purchased a new stake in TXNM Energy during the 4th quarter valued at $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new stake in TXNM Energy during the 4th quarter valued at $189,170,000. Zimmer Partners LP purchased a new stake in TXNM Energy during the 4th quarter valued at $165,816,000. Finally, Point72 Asset Management L.P. purchased a new stake in TXNM Energy during the 4th quarter valued at $84,090,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $56.73 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.19 and a debt-to-equity ratio of 1.49. The business’s fifty day simple moving average is $56.63 and its 200-day simple moving average is $53.66. TXNM Energy, Inc. has a 12-month low of $39.70 and a 12-month high of $57.42. The company has a market cap of $5.98 billion, a PE ratio of 29.24, a PEG ratio of 2.68 and a beta of 0.10.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.21). TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The firm had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. TXNM Energy’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share 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. Shareholders of record on Friday, August 8th will be given a dividend of $0.4075 per share. This represents a $1.63 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 8th. TXNM Energy’s dividend payout ratio (DPR) is currently 84.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TXNM shares. Scotiabank increased 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. Wall Street Zen cut TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Mizuho lowered TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Siebert Williams Shank cut TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Finally, Barclays reissued an “overweight” rating and set a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. One 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.86.

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.