TXNM Energy, Inc. (NYSE:TXNM) Given Average Recommendation of “Hold” by Analysts

TXNM Energy, Inc. (NYSE:TXNM) has earned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $58.4167.

A number of research firms recently weighed in on TXNM. Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and upped their target price for the stock from $58.00 to $61.25 in a report on Monday, October 27th. Citigroup started coverage on TXNM Energy in a research report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 price objective on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a research note on Monday, December 29th.

TXNM Energy Stock Performance

Shares of TXNM opened at $59.00 on Friday. TXNM Energy has a 52-week low of $45.83 and a 52-week high of $59.20. The stock’s 50-day simple moving average is $58.31 and its 200 day simple moving average is $57.30. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 2.52 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share 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 company had revenue of $647.16 million for the quarter, compared to the consensus estimate of $608.65 million. During the same quarter in the prior year, the company earned $1.43 earnings per share. Research analysts forecast that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Friday, January 30th will be given a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. This is a positive change from TXNM Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, January 30th. TXNM Energy’s dividend payout ratio (DPR) is currently 95.32%.

Insider Transactions at TXNM Energy

In other TXNM Energy news, Director Vicky A. Bailey sold 1,800 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $57.74, for a total value of $103,932.00. Following the completion of the transaction, the director owned 8,725 shares of the company’s stock, valued at $503,781.50. The trade was a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.28% of the stock is currently owned by insiders.

Institutional Trading of TXNM Energy

Hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new stake in TXNM Energy in the 2nd quarter worth $28,000. Huntington National Bank grew its stake in shares of TXNM Energy by 1,307.0% in the second quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after purchasing an additional 562 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after purchasing an additional 756 shares during the period. MorganRosel Wealth Management LLC purchased a new position in TXNM Energy during the 2nd quarter valued at about $67,000. Finally, Jones Financial Companies Lllp raised its position in TXNM Energy by 574.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after purchasing an additional 1,102 shares during the last quarter. 91.68% of the stock is owned by institutional investors.

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.