87,539 Shares in TXNM Energy, Inc. (NYSE:TXNM) Bought by New York State Teachers Retirement System

New York State Teachers Retirement System bought a new position in TXNM Energy, Inc. (NYSE:TXNM) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 87,539 shares of the company’s stock, valued at approximately $4,682,000. New York State Teachers Retirement System owned 0.09% of TXNM Energy as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in TXNM Energy during the 4th quarter valued at $497,880,000. T. Rowe Price Investment Management Inc. purchased a new position in TXNM Energy during the 4th quarter valued at $303,744,000. FMR LLC purchased a new position in TXNM Energy during the 4th quarter valued at $191,594,000. Fuller & Thaler Asset Management Inc. purchased a new position in TXNM Energy during the 4th quarter valued at $189,170,000. Finally, Zimmer Partners LP purchased a new position in TXNM Energy during the 4th quarter valued at $165,816,000. 91.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Siebert Williams Shank downgraded shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 23rd. Mizuho downgraded shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Barclays reaffirmed an “overweight” rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Finally, 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 report on Tuesday, May 20th. One equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.86.

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $56.32 on Monday. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.66 and a beta of 0.13. The firm’s 50-day moving average is $55.49 and its 200 day moving average is $52.19. TXNM Energy, Inc. has a 1 year low of $39.60 and a 1 year 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) 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). The firm had revenue of $482.79 million during 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 company’s revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS 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.