Hennion & Walsh Asset Management Inc. Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

Hennion & Walsh Asset Management Inc. bought a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,047 shares of the company's stock, valued at approximately $270,000.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $27,000. Versant Capital Management Inc purchased a new position in TXNM Energy during the first quarter worth about $35,000. Aster Capital Management DIFC Ltd purchased a new position in TXNM Energy during the fourth quarter worth about $38,000. LRI Investments LLC purchased a new position in TXNM Energy during the fourth quarter worth about $40,000. Finally, Nomura Asset Management Co. Ltd. purchased a new position in TXNM Energy during the fourth quarter worth about $48,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Stock Down 0.3%

Shares of NYSE TXNM traded down $0.17 during midday trading on Friday, hitting $56.57. The company's stock had a trading volume of 788,668 shares, compared to its average volume of 995,093. The business's fifty day simple moving average is $54.06 and its two-hundred day simple moving average is $51.31. 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, Inc. has a 1 year low of $39.60 and a 1 year high of $57.29. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 29.46, 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 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 9.69% and a net margin of 9.26%. The firm 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% compared to the same quarter last year. On average, equities analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Siebert Williams Shank lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Wall Street Zen lowered shares of 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 target price (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Scotiabank increased their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 20th. Finally, Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.