TXNM Energy (NYSE:TXNM) Upgraded to “Hold” at Wall Street Zen

TXNM Energy (NYSE:TXNM) was upgraded by investment analysts at Wall Street Zen to a “hold” rating in a report released on Friday.

Several other equities analysts have also commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Citigroup initiated coverage on TXNM Energy in a research note on Thursday, October 9th. They set a “neutral” rating and a $61.25 price target on the stock. Finally, 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 report on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.42.

TXNM Energy Stock Performance

NYSE TXNM opened at $59.21 on Friday. The stock has a fifty day simple moving average of $58.67 and a 200-day simple moving average of $57.49. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. The stock has a market cap of $6.45 billion, a PE ratio of 34.62, a P/E/G ratio of 2.53 and a beta of 0.17. TXNM Energy has a twelve month low of $46.62 and a twelve month high of $59.47.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.11). TXNM Energy had a net margin of 8.67% and a return on equity of 7.20%. The company had revenue of $647.16 million during the quarter, compared to analysts’ expectations of $608.65 million. During the same quarter last year, the firm posted $1.43 earnings per share. Equities analysts anticipate that TXNM Energy will post 2.73 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On TXNM Energy

A number of institutional investors have recently modified their holdings of TXNM. Empowered Funds LLC acquired a new position in TXNM Energy in the first quarter valued at $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of TXNM Energy by 12.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock worth $15,902,000 after buying an additional 32,776 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in TXNM Energy by 17.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,535 shares of the company’s stock valued at $593,000 after acquiring an additional 1,600 shares during the period. GAMMA Investing LLC increased its position in TXNM Energy by 19.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,601 shares of the company’s stock valued at $259,000 after acquiring an additional 749 shares during the period. Finally, Inspire Investing LLC raised its stake in TXNM Energy by 5.0% during the 2nd quarter. Inspire Investing LLC now owns 10,128 shares of the company’s stock valued at $570,000 after acquiring an additional 481 shares during the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

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. The segment owns and leases communications, office and other equipment, office space, vehicles, and real estate. It generates electricity using coal, natural gas and oil, and nuclear fuel and waste, as well as solar, wind, geothermal, and battery storage energy sources.