Rhumbline Advisers Purchases New Position in TXNM Energy, Inc. (NYSE:TXNM)

Rhumbline Advisers purchased a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 314,747 shares of the company's stock, valued at approximately $16,833,000. Rhumbline Advisers owned about 0.34% 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 TXNM. Shell Asset Management Co. bought a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $235,000. Vanguard Group Inc. acquired a new stake in shares of TXNM Energy in the 4th quarter worth $497,880,000. Captrust Financial Advisors acquired a new stake in shares of TXNM Energy in the 4th quarter worth $307,000. Two Sigma Advisers LP acquired a new stake in TXNM Energy during the 4th quarter worth about $24,762,000. Finally, Cetera Investment Advisers acquired a new stake in TXNM Energy during the 4th quarter worth about $236,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Price Performance

NYSE:TXNM opened at $56.71 on Friday. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $57.29. The stock has a 50 day moving average of $53.71 and a two-hundred day moving average of $51.11. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. The firm has a market cap of $5.25 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 6.12 and a beta of 0.13.

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 9.69% and a net margin of 9.26%. The firm had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. The company's quarterly revenue was up 10.5% on a year-over-year basis. On average, 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 subject of several analyst reports. 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. Scotiabank boosted their price objective on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $61.00 price target (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.

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