BNP Paribas Financial Markets Purchases New Holdings in TXNM Energy, Inc. (NYSE:TXNM)

BNP Paribas Financial Markets purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,778 shares of the company's stock, valued at approximately $874,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in TXNM Energy in the 4th quarter worth approximately $497,880,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of TXNM Energy during the fourth quarter worth approximately $303,744,000. FMR LLC purchased a new position in shares of TXNM Energy during the fourth quarter worth approximately $191,594,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of TXNM Energy in the 4th quarter worth approximately $189,170,000. Finally, Alliancebernstein L.P. purchased a new stake in shares of TXNM Energy in the 4th quarter valued at $123,764,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Trading Up 0.3%

NYSE:TXNM traded up $0.17 during mid-day trading on Tuesday, reaching $56.89. 2,412,849 shares of the company's stock traded hands, compared to its average volume of 980,460. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 6.12 and a beta of 0.11. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $57.29. The company has a 50 day moving average price of $53.25 and a 200-day moving average price of $50.55. 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 quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The company had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays restated an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Scotiabank boosted their price objective on 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, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $54.86.

TXNM Energy 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.