Bank & Trust Co Purchases New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Bank & Trust Co bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,668 shares of the company's stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bessemer Group Inc. acquired a new stake in shares of TXNM Energy during the 4th quarter worth about $27,000. Versant Capital Management Inc acquired a new stake in shares of TXNM Energy during the 1st quarter worth about $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TXNM Energy during the 4th quarter worth about $38,000. LRI Investments LLC acquired a new position in TXNM Energy during the fourth quarter worth approximately $40,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in TXNM Energy during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

TXNM has been the topic of several research analyst reports. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Scotiabank lifted their price target 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. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Barclays reaffirmed an "overweight" rating and set a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $54.86.

TXNM Energy Stock Performance

Shares of TXNM stock traded up $0.26 during midday trading on Friday, hitting $56.71. The company had a trading volume of 749,231 shares, compared to its average volume of 997,228. The company's 50 day simple moving average is $53.71 and its 200 day simple moving average is $51.08. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-week high of $57.29. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 6.12 and a beta of 0.13. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced 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 net margin of 9.26% and a return on equity of 9.69%. The company had revenue of $482.79 million during the quarter, compared to analysts' expectations of $451.01 million. The company's quarterly revenue was up 10.5% on a year-over-year basis. Research analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal 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.