Jennison Associates LLC Makes New Investment in TXNM Energy, Inc. (NYSE:TXNM)

Jennison Associates LLC acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 12,049 shares of the company's stock, valued at approximately $644,000.

A number of other hedge funds have also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in TXNM Energy during the 1st quarter worth $25,000. Bessemer Group Inc. bought a new stake in shares of TXNM Energy in the fourth quarter valued at about $27,000. Versant Capital Management Inc acquired a new position in shares of TXNM Energy during the first quarter worth about $35,000. Aster Capital Management DIFC Ltd acquired a new position in shares of TXNM Energy during the fourth quarter worth about $38,000. Finally, LRI Investments LLC acquired a new position in shares of TXNM Energy during the fourth quarter worth about $40,000. 91.68% of the stock is currently owned by institutional investors.

TXNM Energy Stock Performance

Shares of NYSE:TXNM traded down $0.10 during trading on Thursday, reaching $57.00. 422,877 shares of the stock were exchanged, compared to its average volume of 1,293,591. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $57.42. The firm has a market cap of $6.01 billion, a PE ratio of 25.35, a PEG ratio of 2.70 and a beta of 0.13. The stock has a 50-day moving average price of $56.42 and a 200-day moving average price of $52.85. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.80.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $451.01 million. The business's revenue was up 10.5% compared to the same quarter last year. Research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Barclays reaffirmed 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. Mizuho cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Wall Street Zen cut TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Siebert Williams Shank cut TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Scotiabank lifted their price target on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. One 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus 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.