TXNM Energy (NYSE:TXNM) Cut to "Sell" at Wall Street Zen

TXNM Energy (NYSE:TXNM - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Several other research analysts have also recently weighed in on the company. Barclays boosted their target price on TXNM Energy from $57.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday. Mizuho lowered shares of TXNM Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Evercore ISI upgraded shares of TXNM Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Scotiabank boosted their target price on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, TXNM Energy currently has an average rating of "Hold" and an average target price of $54.86.

TXNM Energy Price Performance

NYSE TXNM traded up $0.27 during mid-day trading on Thursday, hitting $56.57. The stock had a trading volume of 698,897 shares, compared to its average volume of 952,684. The firm's 50 day moving average is $53.04 and its 200 day moving average is $50.16. TXNM Energy has a twelve month low of $39.60 and a twelve month high of $57.29. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.36 and a quick ratio of 0.27. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 6.12 and a beta of 0.11.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The business had revenue of $482.79 million for the quarter, compared to analysts' expectations of $451.01 million. TXNM Energy had a return on equity of 9.69% and a net margin of 9.26%. The firm's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts forecast that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

Institutional Trading of TXNM Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. increased its position in shares of TXNM Energy by 4.9% during the first quarter. Federated Hermes Inc. now owns 6,115 shares of the company's stock valued at $327,000 after acquiring an additional 285 shares during the last quarter. Baird Financial Group Inc. boosted its position in shares of TXNM Energy by 6.0% during the 1st quarter. Baird Financial Group Inc. now owns 5,095 shares of the company's stock worth $272,000 after purchasing an additional 287 shares during the period. Hughes Financial Services LLC purchased a new position in shares of TXNM Energy during the 1st quarter worth approximately $25,000. Cetera Investment Advisers increased its holdings in TXNM Energy by 10.1% in the 1st quarter. Cetera Investment Advisers now owns 5,281 shares of the company's stock valued at $282,000 after purchasing an additional 486 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new stake in TXNM Energy in the fourth quarter valued at approximately $27,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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