TXNM Energy (NYSE:TXNM) Downgraded to Sell Rating by Wall Street Zen

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

Other equities research analysts also recently issued reports about the stock. Citigroup assumed coverage on shares of TXNM Energy in a research note on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th. Finally, Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and raised their target price for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $58.42.

TXNM Energy Trading Down 0.5%

Shares of TXNM stock opened at $58.93 on Friday. TXNM Energy has a fifty-two week low of $47.21 and a fifty-two week high of $59.47. The stock’s fifty day moving average price is $58.80 and its two-hundred day moving average price is $57.58. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. The company has a market cap of $6.42 billion, a PE ratio of 34.46, a P/E/G ratio of 2.53 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, October 31st. The company reported $1.33 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $608.65 million. During the same quarter in the prior year, the company earned $1.43 earnings per share. Equities analysts predict that TXNM Energy will post 2.73 EPS for the current fiscal year.

Insider Transactions at TXNM Energy

In other news, Director Vicky A. Bailey sold 1,800 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $57.74, for a total transaction of $103,932.00. Following the completion of the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cape Investment Advisory Inc. acquired a new stake in shares of TXNM Energy during the second quarter worth $28,000. Huntington National Bank boosted its position in TXNM Energy by 1,307.0% during the second quarter. Huntington National Bank now owns 605 shares of the company’s stock valued at $34,000 after acquiring an additional 562 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after acquiring an additional 756 shares during the period. MorganRosel Wealth Management LLC bought a new position in shares of TXNM Energy in the 2nd quarter worth about $67,000. Finally, Jones Financial Companies Lllp raised its position in shares of TXNM Energy by 574.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock worth $73,000 after acquiring an additional 1,102 shares in the last quarter. Institutional investors and hedge funds own 91.68% of the company’s stock.

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.