TXNM Energy (NYSE:TXNM) Coverage Initiated at Citigroup

Analysts at Citigroup began coverage on shares of TXNM Energy (NYSE:TXNM) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $61.25 price target on the stock. Citigroup’s price target would suggest a potential upside of 8.20% from the stock’s previous close.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of TXNM Energy in a report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.04.

TXNM Energy Stock Down 0.4%

NYSE:TXNM opened at $56.61 on Thursday. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 2.69 and a beta of 0.06. TXNM Energy has a twelve month low of $42.09 and a twelve month high of $57.42. The stock’s 50 day moving average price is $56.78 and its two-hundred day moving average price is $55.56. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Thursday, February 3rd. The company reported $0.15 earnings per share for the quarter. The business had revenue of ($1,163.74) million for the quarter. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%. Equities research analysts expect that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXNM. Reaves W H & Co. Inc. acquired a new position in TXNM Energy in the 1st quarter valued at $161,678,000. Norges Bank acquired a new position in TXNM Energy in the 2nd quarter valued at $99,354,000. BROOKFIELD Corp ON acquired a new position in TXNM Energy in the 1st quarter valued at $94,216,000. Charles Schwab Investment Management Inc. acquired a new position in TXNM Energy in the 1st quarter valued at $67,052,000. Finally, Bank of New York Mellon Corp acquired a new position in TXNM Energy in the 1st quarter valued at $63,803,000. 91.68% of the stock is owned by institutional investors and hedge funds.

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.