Ausbil Investment Management Ltd Purchases New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Ausbil Investment Management Ltd acquired a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 180,156 shares of the company's stock, valued at approximately $9,635,000. TXNM Energy comprises about 6.2% of Ausbil Investment Management Ltd's holdings, making the stock its largest position. Ausbil Investment Management Ltd owned approximately 0.19% of TXNM Energy as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Shell Asset Management Co. acquired a new stake in TXNM Energy in the 4th quarter valued at $235,000. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter worth about $497,880,000. Captrust Financial Advisors purchased a new stake in shares of TXNM Energy in the fourth quarter worth about $307,000. Two Sigma Advisers LP acquired a new stake in shares of TXNM Energy in the fourth quarter valued at about $24,762,000. Finally, Cetera Investment Advisers purchased a new stake in shares of TXNM Energy during the 4th quarter valued at about $236,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TXNM has been the subject of a number of analyst reports. Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Scotiabank lifted their price target 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. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Barclays restated an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $54.86.

TXNM Energy Stock Up 0.3%

TXNM traded up $0.18 during trading on Monday, hitting $56.61. The company had a trading volume of 1,232,811 shares, compared to its average volume of 998,185. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $57.29. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.19. The company has a market cap of $5.25 billion, a PE ratio of 25.16, a P/E/G ratio of 2.67 and a beta of 0.13. The business has a 50-day moving average of $54.81 and a 200-day moving average of $51.64.

TXNM Energy (NYSE:TXNM - Get Free Report) last released 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 return on equity of 9.09% and a net margin of 10.13%. The company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy's quarterly revenue was up 10.5% on a year-over-year basis. As a group, 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.