Deroy & Devereaux Private Investment Counsel Inc. Buys Shares of 479,754 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 the company in its most recent Form 13F filing with the SEC. The institutional investor bought 479,754 shares of the company's stock, valued at approximately $25,657,000. TXNM Energy makes up approximately 1.5% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 29th largest position. Deroy & Devereaux Private Investment Counsel Inc. owned about 0.52% of TXNM Energy at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in TXNM Energy in the 4th quarter valued at about $27,000. Versant Capital Management Inc acquired a new stake in TXNM Energy in the 1st quarter valued at about $35,000. Aster Capital Management DIFC Ltd purchased a new position in shares of TXNM Energy in the 4th quarter valued at about $38,000. LRI Investments LLC purchased a new position in shares of TXNM Energy in the 4th quarter valued at about $40,000. Finally, Fifth Third Bancorp purchased a new position in shares of TXNM Energy in the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

TXNM Energy Stock Performance

NYSE:TXNM traded down $0.01 during mid-day trading on Monday, reaching $56.31. 965,306 shares of the stock were exchanged, compared to its average volume of 1,022,861. The company has a 50 day simple moving average of $55.49 and a 200-day simple moving average of $52.19. The stock has a market capitalization of $5.22 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.66 and a beta of 0.13. The company has a quick ratio of 0.19, a current ratio of 0.29 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 results on Friday, May 9th. The company reported $0.19 earnings per share (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 for the quarter, compared to analysts' expectations of $451.01 million. The business's revenue was up 10.5% on a year-over-year basis. Analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

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.