Arizona State Retirement System Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

Arizona State Retirement System bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 24,580 shares of the company's stock, valued at approximately $1,315,000.

Several other large investors also recently made changes to their positions in TXNM. Principal Financial Group Inc. bought a new position in shares of TXNM Energy during the 1st quarter worth approximately $11,181,000. Allspring Global Investments Holdings LLC purchased a new position in shares of TXNM Energy during the 1st quarter valued at $878,000. New York State Teachers Retirement System purchased a new position in shares of TXNM Energy during the 1st quarter valued at $4,682,000. KBC Group NV purchased a new position in TXNM Energy in the first quarter worth $188,000. Finally, Amalgamated Bank purchased a new position in TXNM Energy in the first quarter worth $2,135,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on TXNM. Barclays reaffirmed 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 report on Tuesday, May 20th. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Scotiabank raised their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $54.86.

TXNM Energy Price Performance

TXNM Energy stock opened at $56.89 on Friday. The firm has a 50-day moving average of $56.17 and a two-hundred day moving average of $52.71. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $57.29. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.19.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $451.01 million. The company's revenue was up 10.5% on a year-over-year basis. On average, research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

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.

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