Wall Street Zen Upgrades TXNM Energy (NYSE:TXNM) to "Hold"

Key Points

• Wall Street Zen upgraded TXNM Energy from a "sell" to a "hold" rating in a research note issued on Sunday.
• TXNM missed the quarter with $0.21 EPS vs. $0.30 expected (revenue $504.98M vs. $506.24M), though revenue rose 4.6% year-over-year and the stock trades around $59 with a market cap of about $6.56 billion.
• Institutional investors own 91.68% of the stock, with large increases in holdings from Vanguard, Balyasny, Norges Bank and Goldman Sachs over recent quarters.

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

TXNM Energy Stock Up 0.3%

TXNM Energy stock opened at $59.21 on Friday. TXNM Energy has a 1-year low of $51.59 and a 1-year high of $59.52. The company has a current ratio of 0.55, a quick ratio of 0.38 and a debt-to-equity ratio of 1.48. The firm's fifty day simple moving average is $58.83 and its 200-day simple moving average is $58.52. The company has a market capitalization of $6.56 billion, a P/E ratio of 42.60, a P/E/G ratio of 2.53 and a beta of 0.16.

TXNM Energy (NYSE:TXNM - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.54% and a net margin of 7.27%.The business had revenue of $504.98 million during the quarter, compared to analyst estimates of $506.24 million. During the same quarter last year, the firm earned $0.19 EPS. TXNM Energy's revenue for the quarter was up 4.6% compared to the same quarter last year. Sell-side analysts forecast that TXNM Energy will post 3.09 earnings per share for the current fiscal year.

Institutional Trading of TXNM Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in TXNM Energy by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company's stock worth $700,631,000 after purchasing an additional 330,382 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in TXNM Energy by 344.9% in the 3rd quarter. Balyasny Asset Management L.P. now owns 4,042,301 shares of the company's stock valued at $228,592,000 after buying an additional 3,133,794 shares during the period. Norges Bank bought a new position in TXNM Energy in the 4th quarter valued at about $182,061,000. Geode Capital Management LLC increased its holdings in TXNM Energy by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 2,570,550 shares of the company's stock valued at $151,378,000 after buying an additional 161,141 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in TXNM Energy by 53.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,931,107 shares of the company's stock valued at $113,704,000 after buying an additional 668,929 shares during the period. 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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