TXNM Energy, Inc. (NYSE:TXNM) Receives Average Rating of “Hold” from Brokerages

Shares of TXNM Energy, Inc. (NYSE:TXNM) have been assigned an average recommendation of “Hold” from the three research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $61.25.

Separately, Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a research note on Monday, May 11th.

Institutional Trading of TXNM Energy

Hedge funds have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in shares of TXNM Energy in the 4th quarter valued at approximately $27,000. Smartleaf Asset Management LLC grew its stake in shares of TXNM Energy by 280.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock valued at $58,000 after buying an additional 756 shares during the period. Jones Financial Companies Lllp grew its stake in shares of TXNM Energy by 574.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock valued at $73,000 after buying an additional 1,102 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of TXNM Energy by 17.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,257 shares of the company’s stock worth $73,000 after acquiring an additional 184 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of TXNM Energy in the 4th quarter worth approximately $74,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

TXNM Energy Stock Up 0.0%

Shares of NYSE TXNM opened at $59.48 on Friday. TXNM Energy has a 12-month low of $56.17 and a 12-month high of $59.52. The stock has a market cap of $6.58 billion, a PE ratio of 42.79, a P/E/G ratio of 2.57 and a beta of 0.16. The company has a current ratio of 0.55, a quick ratio of 0.36 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average of $58.92 and a 200 day moving average of $58.75.

TXNM Energy (NYSE:TXNM) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.09). TXNM Energy had a net margin of 6.96% and a return on equity of 7.18%. The business had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $506.24 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that TXNM Energy will post 3.07 EPS for the current fiscal year.

TXNM Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $1.145 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $4.58 annualized dividend and a yield of 7.7%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.42. TXNM Energy’s dividend payout ratio is currently 121.58%.

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.