TXNM Energy (NYSE:TXNM) Upgraded at Citigroup

TXNM Energy (NYSE:TXNM) was upgraded by equities researchers at Citigroup to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of TXNM Energy in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $57.04.

TXNM Energy Price Performance

TXNM opened at $56.80 on Wednesday. The stock’s 50 day simple moving average is $56.78 and its 200 day simple moving average is $55.54. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.51 and a quick ratio of 0.36. TXNM Energy has a 1 year low of $42.09 and a 1 year 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.

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

Institutional Investors Weigh In On TXNM Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Hughes Financial Services LLC purchased a new stake in TXNM Energy in the 1st quarter worth approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in TXNM Energy in the 2nd quarter worth approximately $28,000. Huntington National Bank lifted its holdings in TXNM Energy by 1,307.0% in the 2nd quarter. Huntington National Bank now owns 605 shares of the company’s stock worth $34,000 after buying an additional 562 shares during the period. Fifth Third Bancorp purchased a new stake in TXNM Energy in the 1st quarter worth approximately $40,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of TXNM Energy in the 1st quarter valued at approximately $41,000. Hedge funds and other 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.