Peregrine Capital Management LLC Acquires Shares of 102,953 TXNM Energy, Inc. (NYSE:TXNM)

Peregrine Capital Management LLC bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 102,953 shares of the company's stock, valued at approximately $5,506,000. Peregrine Capital Management LLC owned 0.11% of TXNM Energy at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TXNM. Vanguard Group Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $497,880,000. T. Rowe Price Investment Management Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $303,744,000. FMR LLC purchased a new position in TXNM Energy during the fourth quarter worth about $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new position in TXNM Energy during the fourth quarter worth about $189,170,000. Finally, Zimmer Partners LP purchased a new position in TXNM Energy during the fourth quarter worth about $165,816,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Down 0.4%

Shares of TXNM stock traded down $0.20 during trading hours on Wednesday, reaching $56.30. The company had a trading volume of 1,340,341 shares, compared to its average volume of 1,023,587. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.19 and a current ratio of 0.29. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $57.29. The company has a market capitalization of $5.22 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.67 and a beta of 0.13. The stock's fifty day simple moving average is $55.31 and its 200 day simple moving average is $51.99.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its 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 net margin of 10.13% and a return on equity of 9.09%. The company had revenue of $482.79 million during the quarter, compared to analyst estimates of $451.01 million. The company's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TXNM has been the topic of a number of research reports. Scotiabank raised their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Barclays restated an "overweight" rating and issued a $61.00 price objective (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company 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.