TXNM Energy, Inc. (NYSE:TXNM) Receives Average Recommendation of “Hold” from Brokerages

Shares of TXNM Energy, Inc. (NYSE:TXNM) have been given a consensus rating of “Hold” by the eight brokerages that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $58.4167.

A number of brokerages recently commented on TXNM. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and raised their price target for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Citigroup began coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 target price for the company. Finally, Weiss Ratings cut shares of TXNM Energy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday.

Insiders Place Their Bets

In other news, Director Vicky A. Bailey sold 1,800 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the sale, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On TXNM Energy

A number of hedge funds have recently bought and sold shares of TXNM. Cape Investment Advisory Inc. bought a new position in shares of TXNM Energy during the 2nd quarter valued at $28,000. Huntington National Bank lifted its holdings in TXNM Energy by 1,307.0% in the second quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after acquiring an additional 562 shares during the period. Smartleaf Asset Management LLC bought a new position in TXNM Energy in the first quarter valued at about $43,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in TXNM Energy in the first quarter worth about $54,000. Finally, Twin Tree Management LP bought a new stake in shares of TXNM Energy during the 1st quarter valued at about $58,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Price Performance

TXNM stock opened at $58.21 on Friday. The firm has a market cap of $6.34 billion, a P/E ratio of 30.01, a P/E/G ratio of 2.69 and a beta of 0.13. The firm’s fifty day moving average is $57.12 and its 200 day moving average is $56.70. TXNM Energy has a 52 week low of $45.71 and a 52 week high of $58.25. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The company had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. During the same period last year, the firm earned $1.43 earnings per share. Research analysts predict that TXNM Energy will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were given a $0.4075 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.8%. TXNM Energy’s dividend payout ratio is currently 95.32%.

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.