State of Michigan Retirement System Takes Position in TXNM Energy, Inc. (NYSE:TXNM)

State of Michigan Retirement System bought a new position in shares of TXNM Energy, Inc. (NYSE:TXNM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,589 shares of the company's stock, valued at approximately $1,155,000.

A number of other hedge funds have also modified their holdings of the business. Bessemer Group Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter worth $27,000. Versant Capital Management Inc purchased a new stake in shares of TXNM Energy during the 1st quarter worth $35,000. Fifth Third Bancorp purchased a new stake in shares of TXNM Energy during the 1st quarter worth $40,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TXNM Energy during the 4th quarter worth $38,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of TXNM Energy during the 1st quarter worth $41,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.2%

Shares of TXNM stock traded up $0.14 on Friday, hitting $56.82. The company's stock had a trading volume of 227,272 shares, compared to its average volume of 1,033,835. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.29 and a quick ratio of 0.19. TXNM Energy, Inc. has a fifty-two week low of $39.60 and a fifty-two week high of $57.29. The firm's fifty day moving average price is $56.09 and its 200-day moving average price is $52.63. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.68 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 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 the consensus estimate of $451.01 million. TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The business's revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 23rd. Barclays reissued 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. Mizuho downgraded shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Scotiabank increased 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 report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.