Parallel Advisors LLC Sells 349 Shares of TXNM Energy, Inc. (NYSE:TXNM)

Parallel Advisors LLC lessened its position in shares of TXNM Energy, Inc. (NYSE:TXNM) by 23.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,148 shares of the company’s stock after selling 349 shares during the quarter. Parallel Advisors LLC’s holdings in TXNM Energy were worth $61,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. acquired a new position in TXNM Energy during the 4th quarter valued at approximately $497,880,000. T. Rowe Price Investment Management Inc. acquired a new position in TXNM Energy during the 4th quarter valued at approximately $303,744,000. FMR LLC acquired a new position in TXNM Energy during the 4th quarter valued at approximately $191,594,000. Fuller & Thaler Asset Management Inc. acquired a new position in TXNM Energy during the 4th quarter valued at approximately $189,170,000. Finally, Zimmer Partners LP acquired a new position in TXNM Energy during the 4th quarter valued at approximately $165,816,000. Institutional investors own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TXNM shares. Scotiabank upped their price target on shares of TXNM Energy from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 20th. Barclays reiterated an “overweight” rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Evercore ISI upgraded shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Mizuho lowered shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $54.86.

TXNM Energy Stock Performance

Shares of NYSE TXNM opened at $56.71 on Monday. The company’s fifty day moving average price is $53.71 and its 200 day moving average price is $51.12. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year high of $57.29. The company has a market capitalization of $5.25 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 6.12 and a beta of 0.13. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.27 and a current ratio of 0.36.

TXNM Energy (NYSE:TXNM) 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 return on equity of 9.69% and a net margin of 9.26%. The firm had revenue of $482.79 million for the quarter, compared to analysts’ expectations of $451.01 million. TXNM Energy’s revenue was up 10.5% compared to the same quarter last year. On average, research analysts predict that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

TXNM Energy 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.