TXNM Energy, Inc. (NYSE:TXNM) Receives Consensus Recommendation of “Hold” from Analysts

TXNM Energy, Inc. (NYSE:TXNM) has been assigned an average recommendation of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $57.6429.

Several research firms recently issued reports on TXNM. Weiss Ratings restated a “buy (b-)” rating on shares of TXNM Energy in a research report on Monday. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and raised their price objective for the stock from $58.00 to $61.25 in a research report on Monday, October 27th. Finally, Citigroup began 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.

Insider Buying and Selling

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On TXNM Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. raised its stake in shares of TXNM Energy by 344.9% in the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock valued at $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Reaves W H & Co. Inc. acquired a new stake in TXNM Energy in the 1st quarter valued at about $161,678,000. Norges Bank purchased a new position in shares of TXNM Energy in the 2nd quarter valued at about $99,354,000. BROOKFIELD Corp ON acquired a new position in shares of TXNM Energy during the first quarter worth about $94,216,000. Finally, Vanguard Group Inc. grew its position in shares of TXNM Energy by 16.0% during the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock worth $654,223,000 after buying an additional 1,598,954 shares in the last quarter. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Trading Up 0.5%

NYSE TXNM traded up $0.32 on Friday, reaching $58.11. 1,148,177 shares of the company were exchanged, compared to its average volume of 1,144,606. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49. The business’s fifty day moving average price is $57.03 and its 200 day moving average price is $56.56. The stock has a market capitalization of $6.33 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 2.69 and a beta of 0.13. TXNM Energy has a fifty-two week low of $45.71 and a fifty-two week high of $58.25.

TXNM Energy (NYSE:TXNM) last issued its earnings results on Friday, October 31st. The company reported $1.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.11). The company had revenue of $647.16 million during the quarter, compared to analyst estimates of $608.65 million. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.During the same period last year, the business earned $1.43 earnings per share. Analysts forecast that TXNM Energy will post 2.73 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were paid a $0.4075 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.63 dividend on an annualized basis and a dividend yield of 2.8%. TXNM Energy’s payout ratio is presently 95.32%.

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.