Spirit of America Management Corp NY Takes $278,000 Position in TXNM Energy, Inc. (NYSE:TXNM)

Spirit of America Management Corp NY bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,200 shares of the company's stock, valued at approximately $278,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in TXNM Energy during the 4th quarter worth $497,880,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter worth about $303,744,000. FMR LLC bought a new stake in TXNM Energy in the 4th quarter valued at about $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in TXNM Energy during the 4th quarter valued at about $189,170,000. Finally, Zimmer Partners LP acquired a new position in TXNM Energy during the 4th quarter valued at about $165,816,000. 91.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TXNM. Scotiabank lifted 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 downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research note 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. Barclays reissued an "overweight" rating and issued a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Finally, Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.86.

TXNM Energy Price Performance

TXNM stock traded down $0.10 during trading hours on Tuesday, hitting $56.51. 2,447,470 shares of the stock traded hands, compared to its average volume of 1,004,737. The stock has a 50-day simple moving average of $54.89 and a 200 day simple moving average of $51.69. The company has a market cap of $5.24 billion, a P/E ratio of 25.11, a P/E/G ratio of 2.67 and a beta of 0.13. TXNM Energy, Inc. has a one year low of $39.60 and a one 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.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. The business's revenue for the quarter was up 10.5% on a year-over-year basis. Equities analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

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.