TXNM Energy (NYSE:TXNM) Downgraded to "Sell" Rating by Wall Street Zen

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

Several other brokerages also recently commented on TXNM. Mizuho downgraded TXNM Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Barclays reaffirmed an "overweight" rating and issued a $61.00 price objective (up previously from $57.00) on shares of TXNM Energy in a research report on Wednesday, May 21st. Evercore ISI raised TXNM Energy from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $51.00 to $54.00 in a research report on Tuesday, February 11th. Finally, Scotiabank upped their price objective on TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $54.86.

TXNM Energy Trading Up 0.5%

Shares of NYSE TXNM traded up $0.29 during trading hours on Thursday, hitting $57.01. 1,307,336 shares of the company traded hands, compared to its average volume of 975,306. The company's 50 day moving average price is $53.20 and its 200 day moving average price is $50.50. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 6.12 and a beta of 0.11. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 1.80. TXNM Energy has a 12 month low of $39.60 and a 12 month high of $57.29.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $482.79 million during the quarter, compared to the consensus estimate of $451.01 million. TXNM Energy had a net margin of 9.26% and a return on equity of 9.69%. The firm's revenue was up 10.5% on a year-over-year basis. On average, equities research analysts anticipate that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds have recently made changes to their positions in TXNM. Xponance Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter worth $625,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of TXNM Energy during the 4th quarter worth $8,369,000. Sei Investments Co. purchased a new stake in shares of TXNM Energy during the 4th quarter worth $9,270,000. LPL Financial LLC purchased a new stake in shares of TXNM Energy during the 4th quarter worth $470,000. Finally, Vanguard Group Inc. purchased a new stake in shares of TXNM Energy during the 4th quarter worth $497,880,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.

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.