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

Key Points

• Wall Street Zen downgraded TXNM Energy from a “hold” to a “sell” rating in a Monday research note.
• The stock was essentially flat at $58.99, near its 52-week high of $59.52, and the company carries a market cap of $6.53 billion.
• Recent earnings missed expectations, with TXNM reporting $0.21 EPS versus the $0.30 estimate, while revenue came in slightly below forecasts at $504.98 million.

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

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TXNM Energy Stock Down 0.0%

TXNM stock opened at $58.99 on Monday. The company has a market cap of $6.53 billion, a PE ratio of 42.44, a price-to-earnings-growth ratio of 2.54 and a beta of 0.16. The business has a 50-day simple moving average of $58.84 and a 200 day simple moving average of $58.58. TXNM Energy has a 52 week low of $51.59 and a 52 week high of $59.52. 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 (NYSE:TXNM - Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). The business had revenue of $504.98 million for the quarter, compared to analyst estimates of $506.24 million. TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The firm's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. Sell-side analysts anticipate that TXNM Energy will post 3.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TXNM. Balyasny Asset Management L.P. raised its stake in TXNM Energy by 344.9% during the third quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock worth $228,592,000 after acquiring an additional 3,133,794 shares in the last quarter. Norges Bank acquired a new position in shares of TXNM Energy in the fourth quarter valued at approximately $182,061,000. Vanguard Group Inc. increased its stake in shares of TXNM Energy by 16.0% in the third quarter. Vanguard Group Inc. now owns 11,568,926 shares of the company's stock valued at $654,223,000 after buying an additional 1,598,954 shares during the period. Citadel Advisors LLC increased its stake in shares of TXNM Energy by 19,952.4% in the third quarter. Citadel Advisors LLC now owns 1,007,033 shares of the company's stock valued at $56,948,000 after buying an additional 1,002,011 shares during the period. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of TXNM Energy by 83.1% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company's stock valued at $99,279,000 after buying an additional 800,258 shares during the period. 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.

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