TXNM Energy (NYSE:TXNM) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of TXNM Energy (NYSE:TXNM) to a hold rating in a research report report published on Friday morning.

A number of other research analysts have also recently commented on TXNM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their price objective for the company from $58.00 to $61.25 in a report on Monday, October 27th. Finally, Citigroup began coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price for the company. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $58.42.

TXNM Energy Trading Down 0.2%

Shares of TXNM stock opened at $59.21 on Friday. 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 firm has a market cap of $6.45 billion, a P/E ratio of 34.62, a PEG ratio of 2.53 and a beta of 0.17. The company has a 50 day moving average of $58.67 and a 200-day moving average of $57.49. TXNM Energy has a 12-month low of $46.62 and a 12-month high of $59.47.

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

TXNM Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Friday, January 30th will be paid a $0.4225 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.69 annualized dividend and a yield of 2.9%. This is an increase from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio is 98.83%.

Insiders Place Their Bets

In other news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the sale, the director directly owned 8,725 shares in the company, valued at $503,781.50. This represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.28% of the stock is owned by insiders.

Hedge Funds Weigh In On TXNM Energy

Hedge funds have recently bought and sold shares of the company. Credit Industriel ET Commercial bought a new stake in TXNM Energy during the second quarter valued at $676,000. BCK Capital Management LP bought a new position in TXNM Energy in the 2nd quarter worth about $2,090,000. Ceredex Value Advisors LLC purchased a new stake in shares of TXNM Energy in the 2nd quarter valued at about $7,426,000. Alberta Investment Management Corp purchased a new stake in shares of TXNM Energy in the 2nd quarter valued at about $28,160,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of TXNM Energy during the 2nd quarter valued at about $1,690,000. Hedge funds and other institutional investors 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.