Louisiana State Employees Retirement System Invests $1.35 Million in TXNM Energy, Inc. (NYSE:TXNM)

Louisiana State Employees Retirement System bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,300 shares of the company's stock, valued at approximately $1,353,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. acquired a new position in shares of TXNM Energy during the fourth quarter worth $27,000. Versant Capital Management Inc purchased a new position in shares of TXNM Energy during the 1st quarter valued at $35,000. Fifth Third Bancorp bought a new stake in shares of TXNM Energy during the 1st quarter worth $40,000. Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy in the fourth quarter worth $38,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of TXNM Energy during the first quarter valued at about $41,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Performance

NYSE:TXNM traded up $0.50 during mid-day trading on Monday, hitting $57.35. The stock had a trading volume of 1,185,354 shares, compared to its average volume of 1,040,570. TXNM Energy, Inc. has a 52 week low of $39.60 and a 52 week high of $57.51. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 2.69 and a beta of 0.13. The company has a 50 day simple moving average of $56.17 and a 200-day simple moving average of $52.74. 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 announced 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 net margin of 10.13% and a return on equity of 9.09%. The business had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. The business's revenue for the quarter was up 10.5% on a year-over-year basis. On average, research analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TXNM shares. Wall Street Zen lowered shares of TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays reissued an "overweight" rating and set a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Mizuho cut shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Siebert Williams Shank downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 23rd. Finally, Scotiabank raised their target price on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 20th. One investment 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.com, the stock presently has a consensus 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.