TXNM Energy's (TXNM) Hold (C+) Rating Reaffirmed at Weiss Ratings

Key Points

• TXNM Energy's stock has been given a **"hold (C+)" rating** by Weiss Ratings, reaffirming its current status in the market.
• Citigroup initiated coverage on TXNM Energy with a **"neutral" rating** and a target price of **$61.25** per share.
• The stock currently has a consensus price target of **$57.04**, with a trading volume significantly lower than its average, reflecting ongoing investor interest and market dynamics.

TXNM Energy (NYSE:TXNM - Get Free Report)'s stock had its "hold (c+)" rating restated by equities research analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Separately, Citigroup assumed coverage on TXNM Energy in a research note on Thursday, October 9th. They issued a "neutral" rating and a $61.25 target price on the stock. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $57.04.

TXNM Energy Trading Down 0.0%

TXNM Energy stock traded down $0.03 during mid-day trading on Tuesday, hitting $56.89. The stock had a trading volume of 220,765 shares, compared to its average volume of 1,201,561. The stock has a 50-day simple moving average of $56.78 and a two-hundred day simple moving average of $55.61. The stock has a market capitalization of $5.99 billion, a PE ratio of 29.32, a P/E/G ratio of 2.68 and a beta of 0.06. TXNM Energy has a 12 month low of $42.09 and a 12 month high of $57.42. The company has a current ratio of 0.51, a quick ratio of 0.36 and a debt-to-equity ratio of 1.49.

TXNM Energy (NYSE:TXNM - Get Free Report) last posted its quarterly earnings results on Thursday, February 3rd. The company reported $0.15 earnings per share (EPS) for the quarter. TXNM Energy had a return on equity of 7.34% and a net margin of 8.75%.The business had revenue of ($1,163.74) million for the quarter. As a group, sell-side analysts forecast that TXNM Energy will post 2.73 EPS for the current year.

Institutional Investors Weigh In On TXNM Energy

Hedge funds have recently modified their holdings of the business. Hughes Financial Services LLC acquired a new stake in shares of TXNM Energy during the first quarter worth about $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of TXNM Energy during the second quarter worth about $28,000. Huntington National Bank raised its position in shares of TXNM Energy by 1,307.0% during the second quarter. Huntington National Bank now owns 605 shares of the company's stock worth $34,000 after purchasing an additional 562 shares during the period. Fifth Third Bancorp acquired a new stake in shares of TXNM Energy during the first quarter worth about $40,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of TXNM Energy during the first quarter worth about $41,000. 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.

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.