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

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

Other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. purchased a new position in TXNM Energy in the 4th quarter worth approximately $27,000. Versant Capital Management Inc purchased a new position in TXNM Energy in the 1st quarter worth approximately $35,000. Fifth Third Bancorp purchased a new position in TXNM Energy in the 1st quarter worth approximately $40,000. Aster Capital Management DIFC Ltd purchased a new position in TXNM Energy in the 4th quarter worth approximately $38,000. Finally, LRI Investments LLC purchased a new position in TXNM Energy in the 4th quarter worth approximately $40,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Trading Up 0.1%

TXNM Energy stock traded up $0.08 during trading on Friday, hitting $56.34. The company had a trading volume of 1,934,434 shares, compared to its average volume of 1,029,766. 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's 50 day simple moving average is $55.78 and its 200-day simple moving average is $52.41. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 2.66 and a beta of 0.13.

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

Wall Street Analyst Weigh In

TXNM has been the topic of a number of research reports. Scotiabank raised their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 20th. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Barclays reaffirmed an "overweight" rating and set a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research 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 assigned a buy rating to the company. According to MarketBeat.com, the stock 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.