TXNM Energy (NYSE:TXNM) Cut to Sell at Wall Street Zen

TXNM Energy (NYSE:TXNM) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other equities analysts have also weighed in on TXNM. Weiss Ratings reiterated 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 report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 target price for the company. Finally, Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and increased their price target for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, TXNM Energy presently has an average rating of “Hold” and a consensus price target of $58.42.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $58.93 on Friday. The firm has a 50 day moving average of $58.80 and a 200-day moving average of $57.58. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. TXNM Energy has a 52 week low of $47.21 and a 52 week high of $59.47.

TXNM Energy (NYSE:TXNM) last issued its earnings results 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). The company had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. TXNM Energy had a return on equity of 7.20% and a net margin of 8.67%.During the same period in the prior year, the company earned $1.43 earnings per share. On average, equities analysts forecast 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 stock was sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. purchased a new stake in shares of TXNM Energy in the second quarter valued at about $28,000. Huntington National Bank boosted its holdings in TXNM Energy by 1,307.0% during the second quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after purchasing an additional 562 shares during the last quarter. Smartleaf Asset Management LLC grew its position in TXNM Energy by 280.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after purchasing an additional 756 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in TXNM Energy in the 2nd quarter valued at about $67,000. Finally, Jones Financial Companies Lllp increased its stake in TXNM Energy by 574.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after buying an additional 1,102 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

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.