TXNM Energy (NYSE:TXNM) Rating Increased to Hold 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 note issued on Saturday.

Several other research firms also recently issued reports on TXNM. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the stock from $58.00 to $61.25 in a 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. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $59.30.

TXNM Energy Stock Performance

NYSE:TXNM opened at $59.02 on Friday. The firm has a market capitalization of $6.43 billion, a PE ratio of 34.51, a price-to-earnings-growth ratio of 2.51 and a beta of 0.16. 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 12-month low of $47.21 and a 12-month high of $59.52. The firm has a 50-day moving average price of $59.04 and a 200 day moving average price of $57.81.

Institutional Trading of TXNM Energy

Several hedge funds have recently added to or reduced their stakes in TXNM. Invesco Ltd. boosted its holdings in shares of TXNM Energy by 9.2% in the fourth quarter. Invesco Ltd. now owns 1,120,403 shares of the company’s stock valued at $65,969,000 after buying an additional 94,796 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of TXNM Energy during the fourth quarter worth $202,000. Alberta Investment Management Corp lifted its position in TXNM Energy by 1.9% in the 4th quarter. Alberta Investment Management Corp now owns 611,614 shares of the company’s stock valued at $36,012,000 after acquiring an additional 11,614 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in TXNM Energy by 16.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,663 shares of the company’s stock worth $569,000 after purchasing an additional 1,347 shares during the period. Finally, Vident Advisory LLC increased its holdings in TXNM Energy by 33.7% during the 4th quarter. Vident Advisory LLC now owns 12,624 shares of the company’s stock worth $743,000 after purchasing an additional 3,183 shares in the last quarter. Institutional investors and hedge funds 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.