GAMMA Investing LLC Buys Shares of 206,005 TXNM Energy, Inc. (NYSE:TXNM)

GAMMA Investing LLC acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 206,005 shares of the company's stock, valued at approximately $11,017,000. GAMMA Investing LLC owned approximately 0.22% of TXNM Energy as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TXNM. Shell Asset Management Co. purchased a new stake in TXNM Energy in the 4th quarter worth approximately $235,000. Vanguard Group Inc. purchased a new position in shares of TXNM Energy during the 4th quarter worth $497,880,000. Captrust Financial Advisors purchased a new position in shares of TXNM Energy during the 4th quarter worth $307,000. Two Sigma Advisers LP purchased a new stake in TXNM Energy in the 4th quarter valued at about $24,762,000. Finally, Cetera Investment Advisers purchased a new stake in TXNM Energy in the 4th quarter valued at about $236,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Stock Up 0.3%

TXNM stock traded up $0.15 during midday trading on Wednesday, hitting $56.75. 1,031,577 shares of the company's stock were exchanged, compared to its average volume of 997,425. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $57.29. The firm has a 50 day moving average price of $53.92 and a 200-day moving average price of $51.25. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 6.12 and a beta of 0.13.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. The company's revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About TXNM Energy

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.