State of Alaska Department of Revenue Takes $565,000 Position in TXNM Energy, Inc. (NYSE:TXNM)

State of Alaska Department of Revenue acquired a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,565 shares of the company's stock, valued at approximately $565,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vista Investment Partners LLC purchased a new stake in shares of TXNM Energy during the 1st quarter valued at $1,609,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of TXNM Energy during the 1st quarter valued at $307,000. Fifth Third Bancorp purchased a new stake in shares of TXNM Energy during the 1st quarter valued at $40,000. USA Financial Formulas purchased a new stake in shares of TXNM Energy during the 1st quarter valued at $94,000. Finally, GAMMA Investing LLC purchased a new stake in shares of TXNM Energy during the 1st quarter valued at $206,000. Hedge funds and other institutional investors own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TXNM shares. Scotiabank increased 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. Siebert Williams Shank lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Mizuho lowered TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Barclays restated an "overweight" rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $54.86.

TXNM Energy Price Performance

Shares of TXNM opened at $56.37 on Friday. The business's 50-day moving average is $55.15 and its two-hundred day moving average is $51.89. The company has a market capitalization of $5.22 billion, a P/E ratio of 25.05, a P/E/G ratio of 2.66 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, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $57.29.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share 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 analyst estimates of $451.01 million. TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. Research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

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.

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