Ballentine Partners LLC Acquires New Position in TXNM Energy, Inc. (NYSE:TXNM)

Ballentine Partners LLC acquired a new stake in TXNM Energy, Inc. (NYSE:TXNM) during the 1st quarter, Holdings Channel.com reports. The firm acquired 6,752 shares of the company’s stock, valued at approximately $361,000.

Several other large investors have also bought and sold shares of TXNM. Bessemer Group Inc. acquired a new position in TXNM Energy in the fourth quarter valued at approximately $27,000. Versant Capital Management Inc acquired a new position in TXNM Energy in the first quarter valued at approximately $35,000. Aster Capital Management DIFC Ltd acquired a new position in TXNM Energy in the fourth quarter valued at approximately $38,000. LRI Investments LLC acquired a new stake in TXNM Energy in the fourth quarter worth $40,000. Finally, Fifth Third Bancorp acquired a new stake in TXNM Energy in the first quarter worth $40,000. 91.68% of the stock is currently owned by institutional investors and hedge funds.

TXNM Energy Trading Down 0.0%

Shares of NYSE:TXNM opened at $56.66 on Wednesday. TXNM Energy, Inc. has a 12 month low of $39.60 and a 12 month high of $57.29. The company has a quick ratio of 0.19, a current ratio of 0.29 and a debt-to-equity ratio of 1.80. The company’s fifty day simple moving average is $55.94 and its 200 day simple moving average is $52.55. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.68 and a beta of 0.13.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). TXNM Energy had a return on equity of 9.09% and a net margin of 10.13%. The company had revenue of $482.79 million for the quarter, compared to analyst estimates of $451.01 million. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, research analysts forecast that TXNM Energy, Inc. will post 2.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TXNM. Mizuho lowered shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Siebert Williams Shank lowered shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, May 23rd. Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. 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 report on Tuesday, May 20th. Finally, Barclays reiterated an “overweight” rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a report on Wednesday, May 21st. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.