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

Shares of TXNM Energy, Inc. (NYSE:TXNM) have received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $59.30.

A number of equities research analysts have recently issued reports on TXNM shares. Wall Street Zen raised shares of TXNM Energy from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th.

Institutional Trading of TXNM Energy

Large investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in TXNM Energy by 9.2% in the fourth quarter. Invesco Ltd. now owns 1,120,403 shares of the company’s stock valued at $65,969,000 after purchasing an additional 94,796 shares in the last quarter. Corient Private Wealth LLC acquired a new position in shares of TXNM Energy in the 4th quarter valued at approximately $202,000. Alberta Investment Management Corp boosted its position in shares of TXNM Energy by 1.9% during the 4th quarter. Alberta Investment Management Corp now owns 611,614 shares of the company’s stock worth $36,012,000 after acquiring an additional 11,614 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in TXNM Energy by 16.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,663 shares of the company’s stock valued at $569,000 after acquiring an additional 1,347 shares during the last quarter. Finally, Vident Advisory LLC raised its position in TXNM Energy by 33.7% during the fourth quarter. Vident Advisory LLC now owns 12,624 shares of the company’s stock valued at $743,000 after purchasing an additional 3,183 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

TXNM Energy stock opened at $58.96 on Monday. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 2.53 and a beta of 0.16. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.35. TXNM Energy has a 12 month low of $47.21 and a 12 month high of $59.52. The stock’s 50 day moving average is $59.07 and its 200-day moving average is $57.90.

TXNM Energy (NYSE:TXNM) last released its quarterly earnings results on Friday, February 27th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.12). TXNM Energy had a net margin of 7.27% and a return on equity of 7.77%. The firm had revenue of $533.23 million during the quarter, compared to the consensus estimate of $593.29 million. During the same quarter last year, the firm earned $0.30 earnings per share. Equities research analysts expect that TXNM Energy will post 2.73 EPS for the current year.

TXNM Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 27th will be paid a $0.4225 dividend. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, April 27th. TXNM Energy’s payout ratio is 115.75%.

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. 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.