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

TXNM Energy, Inc. (NYSE:TXNM) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Six 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 ratings on the stock in the last year is $58.4167.

A number of equities research analysts recently commented on TXNM shares. Jefferies Financial Group lowered TXNM Energy from a “buy” rating to a “hold” rating and increased their price target for the company from $58.00 to $61.25 in a research report on Monday, October 27th. Citigroup began coverage on shares of TXNM Energy in a report on Thursday, October 9th. They issued a “neutral” rating and a $61.25 target price for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of TXNM Energy in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of TXNM Energy from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st.

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 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 transaction, the director owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. The trade was a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On TXNM Energy

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its holdings in TXNM Energy by 3.3% during the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company’s stock worth $356,000 after buying an additional 199 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of TXNM Energy by 1.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 19,139 shares of the company’s stock worth $1,082,000 after purchasing an additional 200 shares during the period. CWM LLC lifted its stake in TXNM Energy by 8.9% in the third quarter. CWM LLC now owns 2,738 shares of the company’s stock valued at $155,000 after purchasing an additional 224 shares during the last quarter. Securian Asset Management Inc. grew its holdings in TXNM Energy by 3.5% during the second quarter. Securian Asset Management Inc. now owns 7,056 shares of the company’s stock valued at $397,000 after purchasing an additional 238 shares during the period. Finally, Inspire Investing LLC increased its position in TXNM Energy by 2.4% in the third quarter. Inspire Investing LLC now owns 10,376 shares of the company’s stock worth $587,000 after buying an additional 248 shares during the last quarter. 91.68% of the stock is owned by hedge funds and other institutional investors.

TXNM Energy Stock Performance

Shares of TXNM Energy stock opened at $58.89 on Thursday. TXNM Energy has a 52 week low of $47.21 and a 52 week high of $59.47. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average price of $58.84 and a 200-day moving average price of $57.63. The company has a market cap of $6.41 billion, a PE ratio of 34.44, a price-to-earnings-growth ratio of 2.52 and a beta of 0.16.

TXNM Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be issued a $0.4225 dividend. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, January 30th. TXNM Energy’s dividend payout ratio is currently 98.83%.

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.