Allspring Global Investments Holdings LLC Invests $878,000 in TXNM Energy, Inc. (NYSE:TXNM)

Allspring Global Investments Holdings LLC acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 16,413 shares of the company's stock, valued at approximately $878,000.

A number of other hedge funds have also recently added to or reduced their stakes in TXNM. Bessemer Group Inc. purchased a new position in TXNM Energy in the fourth quarter valued at about $27,000. Versant Capital Management Inc purchased a new position in TXNM Energy in the first quarter valued at about $35,000. Aster Capital Management DIFC Ltd purchased a new position in TXNM Energy in the fourth quarter valued at about $38,000. LRI Investments LLC purchased a new position in TXNM Energy in the fourth quarter valued at about $40,000. Finally, Fifth Third Bancorp purchased a new position in shares of TXNM Energy during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Stock Down 0.1%

TXNM stock traded down $0.05 during trading on Wednesday, reaching $56.29. The stock had a trading volume of 1,201,758 shares, compared to its average volume of 1,023,415. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $57.29. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $5.22 billion, a P/E ratio of 25.02, a PEG ratio of 2.66 and a beta of 0.13. The firm has a fifty day moving average price of $55.60 and a 200 day moving average price of $52.28.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The firm had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. The company's quarterly revenue was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TXNM. Siebert Williams Shank cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. 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. Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen cut shares of TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Scotiabank lifted their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, TXNM Energy currently has a consensus rating of "Hold" and a consensus price target of $54.86.

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.