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

Tyche Wealth Partners LLC bought a new stake in TXNM Energy, Inc. (NYSE:TXNM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,775 shares of the company’s stock, valued at approximately $362,000.

Several other institutional investors and hedge funds have also made changes to their positions in TXNM. Bessemer Group Inc. acquired a new position in TXNM Energy in the 4th quarter worth $27,000. Versant Capital Management Inc purchased a new stake in shares of TXNM Energy during the first quarter worth about $35,000. Fifth Third Bancorp acquired a new position in shares of TXNM Energy in the first quarter worth about $40,000. Aster Capital Management DIFC Ltd purchased a new position in TXNM Energy in the fourth quarter valued at about $38,000. Finally, LRI Investments LLC purchased a new position in TXNM Energy in the fourth quarter valued at about $40,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

TXNM Energy Trading Down 0.4%

Shares of NYSE TXNM opened at $56.29 on Thursday. TXNM Energy, Inc. has a 12-month low of $39.60 and a 12-month high of $57.29. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.67 and a beta of 0.13. The company has a current ratio of 0.29, a quick ratio of 0.19 and a debt-to-equity ratio of 1.80. The stock’s 50 day simple moving average is $55.03 and its 200 day simple moving average is $51.76.

TXNM Energy (NYSE:TXNM) last posted its 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 company had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a net margin of 10.13% and a return on equity of 9.09%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts expect that TXNM Energy, Inc. will post 2.73 EPS for the current year.

Wall Street Analysts Forecast Growth

TXNM has been the topic of a number of recent analyst reports. Mizuho lowered TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Scotiabank increased their price objective 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. 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. Finally, Barclays restated an “overweight” rating and issued a $61.00 target price (up previously from $57.00) on shares of TXNM Energy in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.