Hennion & Walsh Asset Management Inc. Makes New $270,000 Investment in TXNM Energy, Inc. (NYSE:TXNM)

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

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter worth about $27,000. Versant Capital Management Inc acquired a new position in TXNM Energy during the first quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd purchased a new stake in TXNM Energy during the fourth quarter worth approximately $38,000. LRI Investments LLC purchased a new stake in TXNM Energy during the fourth quarter worth approximately $40,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of TXNM Energy in the fourth quarter worth $48,000. Institutional investors and hedge funds own 91.68% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TXNM. Barclays restated an "overweight" rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Scotiabank raised their target price on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, May 20th. Finally, Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report 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 issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $54.86.

TXNM Energy Stock Up 0.1%

Shares of NYSE TXNM traded up $0.07 during midday trading on Tuesday, reaching $56.64. 1,130,824 shares of the company's stock were exchanged, compared to its average volume of 1,284,214. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36. TXNM Energy, Inc. has a 52-week low of $35.56 and a 52-week high of $57.29. The business's fifty day moving average price is $53.76 and its two-hundred day moving average price is $51.18. The stock has a market capitalization of $5.25 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 6.12 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 earnings per share (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 business 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 forecast that TXNM Energy, Inc. will post 2.73 EPS for the current 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.