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

TXNM Energy, Inc. (NYSE:TXNM) has earned a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $58.4167.

A number of analysts have weighed in on TXNM shares. Citigroup assumed coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 target price on the stock. Jefferies Financial Group downgraded TXNM Energy from a “buy” rating to a “hold” rating and raised their price objective for the company from $58.00 to $61.25 in a report on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th.

Insider Activity

In other news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was 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. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Balyasny Asset Management L.P. boosted its holdings in TXNM Energy by 344.9% during the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company’s stock worth $228,592,000 after acquiring an additional 3,133,794 shares during the last quarter. Norges Bank purchased a new stake in TXNM Energy in the second quarter worth $99,354,000. Vanguard Group Inc. increased its holdings in TXNM Energy by 16.0% in the 3rd quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company’s stock worth $654,223,000 after acquiring an additional 1,598,954 shares during the last quarter. Citadel Advisors LLC raised its position in shares of TXNM Energy by 19,952.4% in the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company’s stock valued at $56,948,000 after purchasing an additional 1,002,011 shares during the period. Finally, LMR Partners LLP bought a new stake in TXNM Energy during the 2nd quarter valued at $48,291,000. 91.68% of the stock is owned by institutional investors.

TXNM Energy Trading Down 0.2%

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 company has a debt-to-equity ratio of 1.35, a quick ratio of 0.36 and a current ratio of 0.51. The business’s fifty day moving average is $58.31 and its 200-day moving average is $57.30. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 34.50, a PEG ratio of 2.52 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last posted its quarterly earnings results on Friday, October 31st. The company reported $1.33 earnings per share 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 net margin of 8.67% and a return on equity of 7.20%. During the same quarter in the previous year, the business posted $1.43 earnings per share. Equities analysts anticipate that TXNM Energy will post 2.73 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. This is an increase 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 presently 95.32%.

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.