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

Wall Street Zen upgraded shares of TXNM Energy (NYSE:TXNM) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group downgraded shares of TXNM Energy from a “buy” rating to a “hold” rating and boosted their target price for the stock from $58.00 to $61.25 in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.30.

TXNM Energy Stock Up 0.3%

Shares of NYSE:TXNM opened at $59.02 on Friday. TXNM Energy has a fifty-two week low of $47.21 and a fifty-two week high of $59.52. The firm’s 50 day moving average price is $59.04 and its 200 day moving average price is $57.82. 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 stock has a market cap of $6.43 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 2.52 and a beta of 0.16.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Friday, January 30th were given a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, January 30th. This is an increase from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s payout ratio is 98.83%.

Institutional Investors Weigh In On TXNM Energy

Hedge funds have recently made changes to their positions in the business. Empowered Funds LLC acquired a new position in TXNM Energy in the 1st quarter valued at about $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of TXNM Energy by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company’s stock valued at $15,902,000 after purchasing an additional 32,776 shares during the last quarter. Securian Asset Management Inc. increased its stake in TXNM Energy by 3.5% in the 2nd quarter. Securian Asset Management Inc. now owns 7,056 shares of the company’s stock valued at $397,000 after buying an additional 238 shares during the period. Shaker Investments LLC OH acquired a new position in shares of TXNM Energy during the second quarter worth about $504,000. Finally, MorganRosel Wealth Management LLC acquired a new position in TXNM Energy during the 2nd quarter worth approximately $67,000. 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.