TXNM Energy (NYSE:TXNM) Upgraded at Wall Street Zen

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

Separately, Weiss Ratings upgraded shares of TXNM Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.25.

TXNM Energy Trading Down 0.4%

Shares of TXNM stock opened at $57.37 on Friday. TXNM Energy has a 12 month low of $55.64 and a 12 month high of $59.53. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.44. The business’s 50 day moving average is $57.50 and its two-hundred day moving average is $58.48. The company has a market cap of $5.91 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 2.48 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, July 31st. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The company had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. Equities analysts predict that TXNM Energy will post 3.07 EPS for the current year.

TXNM Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be given a dividend of $0.4225 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is 93.37%.

Hedge Funds Weigh In On TXNM Energy

Several large investors have recently added to or reduced their stakes in TXNM. Los Angeles Capital Management LLC acquired a new stake in shares of TXNM Energy during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC increased its position in shares of TXNM Energy by 17.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after purchasing an additional 184 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of TXNM Energy by 23.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company’s stock valued at $74,000 after purchasing an additional 236 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of TXNM Energy in the fourth quarter valued at $74,000. Finally, Larson Financial Group LLC lifted its position in TXNM Energy by 81.8% in the third 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 period. 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.