State of Michigan Retirement System Purchases New Shares in TXNM Energy, Inc. (NYSE:TXNM)

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

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of TXNM Energy in the fourth quarter valued at $497,880,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of TXNM Energy during the 4th quarter worth $303,744,000. FMR LLC purchased a new stake in TXNM Energy in the 4th quarter valued at about $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of TXNM Energy during the fourth quarter worth about $189,170,000. Finally, Zimmer Partners LP acquired a new stake in shares of TXNM Energy in the fourth quarter valued at approximately $165,816,000. Institutional investors own 91.68% of the company's stock.

TXNM Energy Price Performance

TXNM traded up $0.21 during trading on Friday, hitting $56.89. 1,714,558 shares of the stock traded hands, compared to its average volume of 1,039,964. The business has a 50 day moving average price of $56.17 and a 200 day moving average price of $52.69. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 2.68 and a beta of 0.13. TXNM Energy, Inc. has a twelve month low of $39.60 and a twelve month high of $57.29. 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 (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). The company had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. TXNM Energy's revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts forecast that TXNM Energy, Inc. will post 2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TXNM has been the topic of several analyst reports. Barclays reiterated an "overweight" rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Wall Street Zen downgraded TXNM Energy from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Scotiabank lifted their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 20th. One 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 data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $54.86.

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.