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

Shares of TXNM Energy, Inc. (NYSE:TXNM) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $60.8750.

Separately, Wall Street Zen lowered shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On TXNM Energy

Institutional investors have recently modified their holdings of the company. Weiss Asset Management LP bought a new stake in TXNM Energy during the 1st quarter valued at $9,670,000. Themes Management Co LLC lifted its stake in shares of TXNM Energy by 33.3% in the first quarter. Themes Management Co LLC now owns 4,593 shares of the company’s stock valued at $269,000 after buying an additional 1,148 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of TXNM Energy by 420.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock valued at $88,839,000 after buying an additional 1,227,627 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of TXNM Energy by 2.1% during the first quarter. Gabelli Funds LLC now owns 893,714 shares of the company’s stock valued at $52,247,000 after buying an additional 18,550 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of TXNM Energy by 11.4% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 346,186 shares of the company’s stock worth $20,238,000 after acquiring an additional 35,550 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Stock Performance

Shares of TXNM stock opened at $59.23 on Friday. The firm has a 50 day moving average of $58.85 and a 200-day moving average of $58.66. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 42.61, a price-to-earnings-growth ratio of 2.56 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. TXNM Energy has a 52 week low of $52.59 and a 52 week high of $59.52.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). The company had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The firm’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. On average, equities analysts forecast that TXNM Energy will post 3.07 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, April 27th were issued a $0.4225 dividend. The ex-dividend date was Monday, April 27th. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s dividend payout ratio is presently 121.58%.

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.