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

Key Points

• Wall Street Zen downgraded TXNM Energy from a "hold" to a "sell" rating in its latest report.
• TXNM missed quarterly estimates, reporting EPS of $0.48 versus $0.60 expected and revenue of $533.2M versus $593.3M expected.
• Despite the downgrade, the consensus remains a "Hold" (one Buy, six Holds) with an average price target of $60.88; the stock trades near $59 with a P/E of 40.4 and institutional ownership of about 91.7%.

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 report released on Saturday.

Separately, Weiss Ratings restated a "hold (c+)" rating on shares of TXNM Energy in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, TXNM Energy currently has a consensus rating of "Hold" and an average price target of $60.88.

TXNM Energy Stock Down 0.0%

TXNM stock opened at $58.99 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.55 and a quick ratio of 0.38. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 40.40, a PEG ratio of 2.53 and a beta of 0.17. The business's fifty day moving average price is $58.85 and its two-hundred day moving average price is $58.45. TXNM Energy has a fifty-two week low of $51.59 and a fifty-two week high of $59.52.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings data on Friday, February 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.12). The firm had revenue of $533.23 million for the quarter, compared to the consensus estimate of $593.29 million. TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.During the same quarter in the previous year, the business earned $0.30 EPS. On average, equities analysts anticipate that TXNM Energy will post 3.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TXNM. Federated Hermes Inc. boosted its stake in shares of TXNM Energy by 3.3% during the second quarter. Federated Hermes Inc. now owns 6,314 shares of the company's stock valued at $356,000 after purchasing an additional 199 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of TXNM Energy by 1.1% during the third quarter. Oregon Public Employees Retirement Fund now owns 19,139 shares of the company's stock valued at $1,082,000 after purchasing an additional 200 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of TXNM Energy by 1.4% during the fourth quarter. Bank of Montreal Can now owns 15,804 shares of the company's stock valued at $931,000 after purchasing an additional 219 shares in the last quarter. CWM LLC boosted its stake in shares of TXNM Energy by 8.9% during the third quarter. CWM LLC now owns 2,738 shares of the company's stock valued at $155,000 after purchasing an additional 224 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of TXNM Energy by 23.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the company's stock valued at $74,000 after purchasing an additional 236 shares in the last quarter. 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. 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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