Hsbc Holdings PLC Purchases Shares of 889,385 TXNM Energy, Inc. $TXNM

Hsbc Holdings PLC acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the second quarter, HoldingsChannel reports. The institutional investor acquired 889,385 shares of the company’s stock, valued at approximately $50,713,000.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of TXNM Energy by 4.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,787 shares of the company’s stock valued at $221,000 after buying an additional 176 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of TXNM Energy by 17.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after buying an additional 184 shares during the last quarter. Federated Hermes Inc. raised its stake in TXNM Energy by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock worth $356,000 after acquiring an additional 199 shares in the last quarter. Bank of Montreal Can raised its stake in TXNM Energy by 1.4% during the 4th quarter. Bank of Montreal Can now owns 15,804 shares of the company’s stock worth $931,000 after acquiring an additional 219 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in TXNM Energy by 3.6% in the first quarter. PNC Financial Services Group Inc. now owns 6,368 shares of the company’s stock valued at $372,000 after acquiring an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TXNM shares. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.25.

TXNM Energy Trading Up 0.4%

Shares of TXNM stock opened at $57.52 on Thursday. The company has a market capitalization of $5.93 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 2.47 and a beta of 0.17. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 1.44. The business’s 50 day moving average is $57.38 and its two-hundred day moving average is $58.33. TXNM Energy, Inc. has a twelve month low of $55.64 and a twelve month high of $59.53.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%.The business had revenue of $548.55 million during the quarter, compared to analysts’ expectations of $567.00 million. Equities analysts forecast that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were paid a $0.4225 dividend. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 3rd. TXNM Energy’s payout ratio is currently 93.37%.

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. 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.