Tyche Wealth Partners LLC Invests $362,000 in TXNM Energy, Inc. (NYSE:TXNM)

Tyche Wealth Partners LLC 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,775 shares of the company's stock, valued at approximately $362,000.

Other large investors also recently added to or reduced their stakes in the company. Ausbil Investment Management Ltd bought a new stake in TXNM Energy during the first quarter worth about $9,635,000. Praxis Investment Management Inc. bought a new stake in TXNM Energy during the first quarter worth about $232,000. Spirit of America Management Corp NY bought a new stake in TXNM Energy during the first quarter worth about $278,000. Good Steward Wealth Advisors LLC bought a new stake in TXNM Energy during the first quarter worth about $208,000. Finally, Retirement Systems of Alabama bought a new stake in TXNM Energy during the first quarter worth about $13,064,000. Institutional investors own 91.68% of the company's stock.

Wall Street Analysts Forecast Growth

TXNM has been the subject of several research analyst reports. Wall Street Zen lowered TXNM Energy from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Barclays reiterated an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. 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. Siebert Williams Shank downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, May 23rd. Finally, Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" 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 MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $54.86.

TXNM Energy Trading Down 0.0%

Shares of TXNM traded down $0.02 during trading hours on Friday, hitting $56.37. The company had a trading volume of 2,637,182 shares, compared to its average volume of 1,015,381. The firm has a market cap 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 stock's 50 day moving average price is $55.15 and its 200 day moving average price is $51.91. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 52-week low of $39.60 and a 52-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 (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. The business had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. The business's revenue was up 10.5% on a year-over-year basis. On average, research analysts predict that TXNM Energy, Inc. will post 2.73 EPS for the current 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.