TXNM Energy (NYSE:TXNM) Stock Rating Upgraded by Wall Street Zen

TXNM Energy (NYSE:TXNM) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

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 analysts have rated the stock with a Hold rating, According to data from MarketBeat, TXNM Energy has an average rating of “Hold” and a consensus price target of $61.25.

TXNM Energy Stock Down 0.0%

TXNM opened at $57.60 on Friday. 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 firm has a market cap of $5.94 billion, a P/E ratio of 31.82, a PEG ratio of 2.48 and a beta of 0.17. TXNM Energy has a 52 week low of $55.64 and a 52 week high of $59.53. The business’s fifty day simple moving average is $57.54 and its 200 day simple moving average is $58.49.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $548.55 million during the quarter, compared to analysts’ expectations of $567.00 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. As a group, equities research analysts anticipate that TXNM Energy will post 3.07 EPS for the current fiscal year.

Hedge Funds Weigh In On TXNM Energy

Hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in shares of TXNM Energy during the 4th quarter valued at $27,000. Kestra Advisory Services LLC purchased a new position in shares of TXNM Energy in the 4th quarter worth $74,000. EverSource Wealth Advisors LLC boosted its holdings in TXNM Energy by 17.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock valued at $73,000 after acquiring an additional 184 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 236 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in TXNM Energy by 81.8% during the third quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock valued at $78,000 after acquiring 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.