TXNM Energy (NYSE:TXNM) Upgraded at Citigroup

Key Points

• TXNM Energy has been upgraded to a "hold" rating by Citigroup, with Weiss Ratings also confirming a similar rating, indicating a cautious outlook from analysts.
• Recent earnings data showed TXNM Energy missed analysts' expectations for earnings per share, reporting $0.25 compared to the expected $0.46, but its revenue for the quarter increased by 2.9% year-over-year.
• Institutional investors hold approximately 91.68% of TXNM Energy's stock, highlighting significant confidence from large financial players.

TXNM Energy (NYSE:TXNM - Get Free Report) was upgraded by equities researchers at Citigroup to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of TXNM Energy in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $57.04.

TXNM Energy Stock Performance

NYSE:TXNM opened at $56.80 on Wednesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.36 and a current ratio of 0.51. TXNM Energy has a 52-week low of $42.09 and a 52-week high of $57.42. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.69 and a beta of 0.06. The business's fifty day moving average is $56.78 and its 200 day moving average is $55.54.

TXNM Energy (NYSE:TXNM - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.21). The company had revenue of $502.42 million for the quarter, compared to the consensus estimate of $493.90 million. TXNM Energy had a net margin of 8.75% and a return on equity of 7.34%. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts predict that TXNM Energy will post 2.73 EPS for the current year.

Hedge Funds Weigh In On TXNM Energy

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of TXNM Energy by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 10,487,634 shares of the company's stock valued at $560,879,000 after purchasing an additional 361,945 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of 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 purchasing an additional 1,043,259 shares during the last quarter. Reaves W H & Co. Inc. bought a new position in shares of TXNM Energy during the 1st quarter valued at about $161,678,000. Geode Capital Management LLC increased its position in shares of TXNM Energy by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company's stock valued at $128,169,000 after purchasing an additional 63,240 shares during the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of TXNM Energy by 14.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,838,506 shares of the company's stock valued at $98,323,000 after purchasing an additional 226,386 shares during the last quarter. 91.68% of the stock is currently owned by institutional investors.

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.

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