46,424 Shares in TXNM Energy, Inc. (NYSE:TXNM) Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC purchased a new position in shares of TXNM Energy, Inc. (NYSE:TXNM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 46,424 shares of the company’s stock, valued at approximately $2,483,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in TXNM Energy during the first quarter worth about $11,181,000. Allspring Global Investments Holdings LLC purchased a new position in TXNM Energy during the first quarter worth about $878,000. New York State Teachers Retirement System purchased a new position in TXNM Energy during the first quarter worth about $4,682,000. KBC Group NV purchased a new position in TXNM Energy during the first quarter worth about $188,000. Finally, Amalgamated Bank purchased a new position in TXNM Energy during the first quarter worth about $2,135,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Stock Up 0.4%

TXNM opened at $56.89 on Friday. 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 stock 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’s 50-day moving average price is $56.17 and its two-hundred day moving average price is $52.69.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts expect that TXNM Energy, Inc. will post 2.73 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on TXNM. Scotiabank boosted their price target 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. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Siebert Williams Shank cut shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 23rd. Barclays reiterated an “overweight” rating and issued a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. Finally, Mizuho cut shares of TXNM Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $54.86.

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.