Retirement Systems of Alabama Invests $13.06 Million in TXNM Energy, Inc. (NYSE:TXNM)

Retirement Systems of Alabama purchased a new stake in TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. bought a new stake in shares of TXNM Energy during the fourth quarter valued at approximately $27,000. Versant Capital Management Inc bought a new stake in shares of TXNM Energy in the 1st quarter worth approximately $35,000. Fifth Third Bancorp bought a new stake in shares of TXNM Energy in the 1st quarter worth approximately $40,000. Aster Capital Management DIFC Ltd bought a new stake in TXNM Energy in the fourth quarter worth $38,000. Finally, LRI Investments LLC bought a new stake in TXNM Energy in the fourth quarter worth $40,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analyst Weigh In

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

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $56.40 on Monday. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $57.29. The stock's fifty day moving average is $54.81 and its 200 day moving average is $51.64. The stock has a market cap of $5.23 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.67 and a beta of 0.13. 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 (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share 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.

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