TXNM Energy (NYSE:TXNM) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded TXNM Energy from “Sell” to “Hold,” while Weiss Ratings raised its rating from “Hold (C)” to “Hold (C+).” Analysts have an average “Hold” rating and a consensus price target of $61.25.
• TXNM Energy shares opened at $57.60, near the lower end of their 52-week range. The company reported quarterly EPS of $0.58, beating estimates by $0.02, although revenue of $548.55 million fell short of expectations.
• Institutional investors own 91.68% of the company, with several firms—including UBS Asset Management and Marshall Wace—recently increasing their positions.

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

Separately, Weiss Ratings raised TXNM Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $61.25.

TXNM Energy Stock Up 0.2%

Shares of NYSE:TXNM opened at $57.60 on Friday. TXNM Energy has a 52 week low of $55.64 and a 52 week high of $59.53. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.36 and a current ratio of 0.56. The company has a market capitalization of $5.94 billion, a PE ratio of 31.82, a PEG ratio of 2.48 and a beta of 0.17. The company has a 50 day moving average price of $57.54 and a two-hundred day moving average price of $58.50.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. The company had revenue of $548.55 million for the quarter, compared to analyst estimates of $567.00 million. Analysts forecast that TXNM Energy will post 3.07 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in shares of TXNM Energy during the first quarter worth $547,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in TXNM Energy by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 297,350 shares of the company's stock worth $15,902,000 after purchasing an additional 32,776 shares during the period. M&T Bank Corp boosted its stake in TXNM Energy by 29.4% in the 2nd quarter. M&T Bank Corp now owns 6,271 shares of the company's stock worth $353,000 after purchasing an additional 1,426 shares during the period. EverSource Wealth Advisors LLC increased its holdings in TXNM Energy by 215.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,528 shares of the company's stock worth $86,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in TXNM Energy by 323.5% during the 2nd quarter. Marshall Wace LLP now owns 126,600 shares of the company's stock worth $7,130,000 after purchasing an additional 96,708 shares in the last quarter. Institutional investors and hedge funds 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. 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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