TXNM Energy (NYSE:TXNM) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Stock Down 0.7%

TXNM Energy stock opened at $57.06 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. TXNM Energy has a 12-month low of $56.17 and a 12-month high of $59.53. The firm’s fifty day moving average is $58.62 and its 200 day moving average is $58.80. The company has a market capitalization of $6.32 billion, a PE ratio of 41.05, a PEG ratio of 2.48 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09). The company had revenue of $504.98 million for the quarter, compared to the consensus estimate of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, sell-side analysts predict that TXNM Energy will post 3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TXNM. Los Angeles Capital Management LLC bought a new stake in shares of TXNM Energy during the fourth quarter worth about $27,000. EverSource Wealth Advisors LLC lifted its position in TXNM Energy by 17.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after acquiring an additional 184 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in TXNM Energy by 23.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of TXNM Energy in the fourth quarter worth approximately $74,000. Finally, Larson Financial Group LLC raised its stake in shares of TXNM Energy by 81.8% in the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after purchasing an additional 623 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors and hedge funds.

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. 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.