Ballentine Partners LLC Acquires New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Ballentine Partners LLC acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,752 shares of the company's stock, valued at approximately $361,000.

Several other large investors have also modified their holdings of the company. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy during the fourth quarter worth $27,000. Versant Capital Management Inc purchased a new position in TXNM Energy in the first quarter worth $35,000. Aster Capital Management DIFC Ltd purchased a new position in TXNM Energy in the fourth quarter worth $38,000. LRI Investments LLC purchased a new position in TXNM Energy in the fourth quarter worth $40,000. Finally, Fifth Third Bancorp purchased a new position in TXNM Energy in the first quarter worth $40,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of TXNM stock traded up $0.04 during mid-day trading on Wednesday, reaching $56.70. The stock had a trading volume of 1,760,052 shares, compared to its average volume of 1,037,846. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $57.29. The company has a market cap of $5.25 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 2.68 and a beta of 0.13. The business has a 50-day simple moving average of $55.94 and a 200 day simple moving average of $52.55. 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 announced its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $482.79 million during the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. The business's quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TXNM shares. Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Scotiabank increased their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 20th. Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Barclays reiterated an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $54.86.

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.