Wall Street Zen Downgrades TXNM Energy (NYSE:TXNM) to Sell

TXNM Energy (NYSE:TXNM) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research note on Friday, May 29th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, TXNM Energy currently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $56.89 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The firm has a fifty day simple moving average of $58.41 and a 200-day simple moving average of $58.75. The stock has a market capitalization of $6.30 billion, a price-to-earnings ratio of 40.93, a PEG ratio of 2.46 and a beta of 0.17. TXNM Energy has a 1-year low of $55.64 and a 1-year high of $59.53.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The firm had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. On average, sell-side analysts expect that TXNM Energy will post 3.07 earnings per share for the current year.

Institutional Investors Weigh In On TXNM Energy

Several large investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in shares of TXNM Energy during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC increased its position in TXNM Energy by 17.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after purchasing an additional 184 shares during the period. Smartleaf Asset Management LLC increased its position in TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock worth $74,000 after purchasing an additional 236 shares during the period. Kestra Advisory Services LLC bought a new stake in TXNM Energy during the 4th quarter worth about $74,000. Finally, Larson Financial Group LLC raised its holdings in TXNM Energy by 81.8% during the 3rd 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. Institutional investors own 91.68% of the company’s stock.

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.