Nuveen Asset Management LLC Buys Shares of 216,768 TXNM Energy, Inc. (NYSE:TXNM)

Nuveen Asset Management LLC bought a new stake in shares of TXNM Energy, Inc. (NYSE:TXNM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 216,768 shares of the company’s stock, valued at approximately $10,658,000.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of TXNM Energy during the 4th quarter valued at $497,880,000. Captrust Financial Advisors purchased a new position in TXNM Energy in the 4th quarter valued at approximately $307,000. Jane Street Group LLC purchased a new stake in shares of TXNM Energy during the fourth quarter worth $3,692,000. Loomis Sayles & Co. L P bought a new position in shares of TXNM Energy in the fourth quarter worth $11,742,000. Finally, JPMorgan Chase & Co. bought a new position in shares of TXNM Energy in the fourth quarter worth $31,972,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TXNM. Evercore ISI raised shares of TXNM Energy from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $51.00 to $54.00 in a report on Tuesday, February 11th. Scotiabank increased their price objective on TXNM Energy from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 20th. Barclays restated an “overweight” rating and set a $61.00 target price (up from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Mizuho downgraded TXNM Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.86.

TXNM Energy Price Performance

Shares of TXNM opened at $56.89 on Wednesday. The firm has a market cap of $5.27 billion, a PE ratio of 29.63, a P/E/G ratio of 6.12 and a beta of 0.11. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy, Inc. has a 1-year low of $39.60 and a 1-year high of $57.29. The firm has a fifty day simple moving average of $53.25 and a two-hundred day simple moving average of $50.55.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $482.79 million for the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, equities analysts anticipate that TXNM Energy, Inc. will post 2.73 EPS for the current year.

About TXNM Energy

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.