TXNM Energy (NYSE:TXNM) Downgraded to "Hold" Rating by Mizuho

TXNM Energy (NYSE:TXNM - Get Free Report) was downgraded by equities researchers at Mizuho from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

TXNM has been the topic of several other research reports. Evercore ISI raised shares of TXNM Energy from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $51.00 to $54.00 in a research note on Tuesday, February 11th. Barclays boosted their price objective on shares of TXNM Energy from $56.00 to $57.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 18th. Finally, Scotiabank boosted their price objective on shares of TXNM Energy from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $54.29.

TXNM Energy Trading Up 0.1%

Shares of TXNM stock traded up $0.03 during mid-day trading on Tuesday, reaching $56.43. The stock had a trading volume of 693,343 shares, compared to its average volume of 936,781. The stock's 50-day moving average price is $52.98 and its two-hundred day moving average price is $50.11. TXNM Energy has a 52-week low of $39.60 and a 52-week high of $57.29. The firm has a market capitalization of $5.23 billion, a PE ratio of 29.38, 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 (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The company had revenue of $482.79 million for 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 for the quarter was up 10.5% on a year-over-year basis. Equities analysts expect that TXNM Energy will post 2.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TXNM Energy

Institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC raised its stake in shares of TXNM Energy by 16.0% in the first quarter. Intech Investment Management LLC now owns 50,390 shares of the company's stock valued at $2,695,000 after acquiring an additional 6,943 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of TXNM Energy by 12.4% in the first 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 acquiring an additional 32,776 shares during the period. Empowered Funds LLC purchased a new stake in shares of TXNM Energy in the first quarter valued at $547,000. United Services Automobile Association purchased a new stake in shares of TXNM Energy in the first quarter valued at $310,000. Finally, Resolution Capital Ltd raised its stake in shares of TXNM Energy by 17.4% in the first quarter. Resolution Capital Ltd now owns 145,954 shares of the company's stock valued at $7,806,000 after acquiring an additional 21,621 shares during the period. Institutional investors 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.

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