Retirement Systems of Alabama Purchases New Stake in TXNM Energy, Inc. (NYSE:TXNM)

Retirement Systems of Alabama bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 244,285 shares of the company's stock, valued at approximately $13,064,000. Retirement Systems of Alabama owned approximately 0.26% of TXNM Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $497,880,000. T. Rowe Price Investment Management Inc. purchased a new stake in TXNM Energy in the 4th quarter valued at approximately $303,744,000. FMR LLC acquired a new stake in TXNM Energy during the 4th quarter valued at $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new stake in TXNM Energy during the 4th quarter valued at $189,170,000. Finally, Zimmer Partners LP purchased a new position in TXNM Energy during the fourth quarter worth $165,816,000. Institutional investors and hedge funds own 91.68% of the company's stock.

TXNM Energy Trading Up 0.1%

TXNM Energy stock traded up $0.07 during trading on Thursday, reaching $56.34. The company had a trading volume of 1,525,851 shares, compared to its average volume of 1,008,141. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $57.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.19 and a current ratio of 0.29. The stock's 50 day moving average price is $55.03 and its two-hundred day moving average price is $51.76. The firm has a market capitalization of $5.22 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 2.66 and a beta of 0.13.

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 the consensus estimate of $0.20 by ($0.01). The company had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. TXNM Energy's revenue was up 10.5% on a year-over-year basis. As a group, equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Scotiabank lifted their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. Barclays restated an "overweight" rating and set a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. 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 company. According to MarketBeat.com, TXNM Energy currently has a consensus rating of "Hold" and a consensus target price of $54.86.

About TXNM Energy

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.