Deroy & Devereaux Private Investment Counsel Inc. Invests $25.66 Million in TXNM Energy, Inc. (NYSE:TXNM)

Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 479,754 shares of the company's stock, valued at approximately $25,657,000. TXNM Energy makes up about 1.5% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 29th biggest position. Deroy & Devereaux Private Investment Counsel Inc. owned approximately 0.52% of TXNM Energy at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. bought a new stake in TXNM Energy during the 4th quarter worth approximately $27,000. Versant Capital Management Inc bought a new position in shares of TXNM Energy during the first quarter valued at about $35,000. Aster Capital Management DIFC Ltd purchased a new position in TXNM Energy in the 4th quarter worth approximately $38,000. LRI Investments LLC bought a new stake in TXNM Energy during the 4th quarter valued at $40,000. Finally, Fifth Third Bancorp purchased a new stake in shares of TXNM Energy during the first quarter worth about $40,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Stock Up 0.1%

TXNM Energy stock opened at $56.32 on Friday. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $57.29. The stock has a 50-day simple moving average of $55.42 and a 200-day simple moving average of $52.07. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.19 and a current ratio of 0.29. The company has a market capitalization of $5.22 billion, a P/E ratio of 25.03, a PEG ratio of 2.66 and a beta of 0.13.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted 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). The company had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

Analyst Ratings Changes

TXNM has been the subject of a number of research analyst reports. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays reaffirmed an "overweight" rating and set a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Scotiabank raised their price target on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, TXNM Energy has an average rating of "Hold" and an average price target 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.

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