TXNM Energy (NYSE:TXNM) Now Covered by Citigroup

Key Points

• Citigroup has initiated coverage on TXNM Energy (NYSE:TXNM) with a "neutral" rating and a price target of $61.25, indicating a potential upside of 7.67% from its current price.
• The company's earnings per share of $0.25 for the last quarter missed analysts' estimates of $0.46, despite reporting a revenue of $502.42 million, which exceeded predictions.
• Institutional investors hold a significant stake in TXNM Energy, owning approximately 91.68% of the company's stock, indicating strong market confidence.

Research analysts at Citigroup began coverage on shares of TXNM Energy (NYSE:TXNM - Get Free Report) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a "neutral" rating and a $61.25 price target on the stock. Citigroup's price target would indicate a potential upside of 7.67% from the stock's current price.

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of TXNM Energy in a report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $57.04.

TXNM Energy Trading Up 0.1%

NYSE TXNM opened at $56.89 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.49. TXNM Energy has a 52 week low of $42.09 and a 52 week high of $57.42. The business has a 50 day moving average price of $56.78 and a 200-day moving average price of $55.52. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.69 and a beta of 0.06.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The business had revenue of $502.42 million during the quarter, compared to analyst estimates of $493.90 million. The business's revenue was up 2.9% on a year-over-year basis. As a group, 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

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in TXNM Energy by 3.6% in the first quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock worth $560,879,000 after purchasing an additional 361,945 shares in the last quarter. Alliancebernstein L.P. lifted its stake in TXNM Energy by 41.4% during the 1st quarter. Alliancebernstein L.P. now owns 3,560,321 shares of the company's stock valued at $190,406,000 after acquiring an additional 1,043,259 shares during the period. Reaves W H & Co. Inc. acquired a new stake in TXNM Energy during the 1st quarter worth about $161,678,000. Geode Capital Management LLC lifted its holdings in TXNM Energy by 2.9% in the second quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company's stock valued at $128,169,000 after acquiring an additional 63,240 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in TXNM Energy by 14.0% during the first quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock valued at $98,323,000 after buying an additional 226,386 shares during the period. Institutional investors own 91.68% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.