State of Alaska Department of Revenue Makes New $565,000 Investment in TXNM Energy, Inc. (NYSE:TXNM)

State of Alaska Department of Revenue bought 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 fund bought 10,565 shares of the company's stock, valued at approximately $565,000.

Other hedge funds also recently bought and sold shares of the company. Xponance Inc. acquired a new stake in TXNM Energy in the 4th quarter valued at about $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in TXNM Energy during the 4th quarter worth approximately $8,369,000. Sei Investments Co. acquired a new stake in TXNM Energy in the fourth quarter valued at approximately $9,270,000. LPL Financial LLC bought a new stake in TXNM Energy during the 4th quarter worth $470,000. Finally, Vanguard Group Inc. acquired a new position in TXNM Energy in the 4th quarter valued at approximately $497,880,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TXNM. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Wall Street Zen downgraded shares of TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Scotiabank upped their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 20th. Finally, Barclays reaffirmed an "overweight" rating and set a $61.00 price target (up 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 company's stock. According to MarketBeat.com, TXNM Energy has a consensus rating of "Hold" and an average price target of $54.86.

TXNM Energy Stock Performance

Shares of TXNM Energy stock traded down $0.12 during trading hours on Wednesday, reaching $56.38. The company had a trading volume of 572,935 shares, compared to its average volume of 1,020,289. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.19. The firm has a market cap of $5.22 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 2.66 and a beta of 0.13. TXNM Energy, Inc. has a one year low of $39.60 and a one year high of $57.29. The business has a fifty day simple moving average of $55.31 and a 200 day simple moving average of $51.99.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.09% and a net margin of 10.13%. The business had revenue of $482.79 million during the quarter, compared to analysts' expectations of $451.01 million. The company's revenue was up 10.5% compared to the same quarter last year. On average, analysts anticipate that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

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.