Ballentine Partners LLC purchased a new position in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,752 shares of the company's stock, valued at approximately $361,000.
Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. bought a new stake in shares of TXNM Energy in the first quarter valued at about $11,181,000. Allspring Global Investments Holdings LLC acquired a new position in shares of TXNM Energy during the first quarter valued at about $878,000. New York State Teachers Retirement System acquired a new position in shares of TXNM Energy during the first quarter valued at about $4,682,000. KBC Group NV acquired a new position in shares of TXNM Energy during the first quarter valued at about $188,000. Finally, Amalgamated Bank acquired a new position in TXNM Energy in the 1st quarter worth approximately $2,135,000. 91.68% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
TXNM has been the topic of several recent research reports. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Scotiabank raised their target price on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 20th. Finally, Barclays reissued an "overweight" rating and set a $61.00 price objective (up 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 assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $54.86.
Check Out Our Latest Analysis on TXNM Energy
TXNM Energy Trading Up 0.4%
Shares of TXNM Energy stock traded up $0.21 during trading hours on Friday, reaching $56.89. The stock had a trading volume of 1,714,558 shares, compared to its average volume of 1,039,964. The firm has a 50 day simple moving average of $56.17 and a two-hundred day simple moving average of $52.69. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 2.68 and a beta of 0.13. 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, Inc. has a 1 year low of $39.60 and a 1 year high of $57.29.
TXNM Energy (NYSE:TXNM - Get Free Report) last released 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 analysts' expectations of $451.01 million. The business's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.
TXNM Energy Profile
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Free Report)
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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