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

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

TXNM has been the topic of a number of other research reports. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and increased their target price for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Finally, Citigroup started coverage on shares of TXNM Energy in a report on Thursday, October 9th. They set a “neutral” rating and a $61.25 price objective on the stock. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.42.

TXNM Energy Price Performance

Shares of TXNM Energy stock opened at $59.21 on Friday. The firm 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. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. The business has a 50-day moving average price of $58.67 and a 200 day moving average price of $57.49.

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

Insider Activity

In other news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction dated 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 approximately $503,781.50. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TXNM. Empowered Funds LLC purchased a new stake in shares of TXNM Energy in the first quarter valued at about $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 purchasing an additional 32,776 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings 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 purchasing an additional 1,600 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 749 shares during the period. Finally, Inspire Investing LLC grew its stake in shares of TXNM Energy by 5.0% in the 2nd quarter. Inspire Investing LLC now owns 10,128 shares of the company’s stock valued at $570,000 after buying an additional 481 shares during the period. Hedge funds and other 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.