TXNM Energy (NYSE:TXNM) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of TXNM Energy (NYSE:TXNM) from a hold rating to a sell rating in a research report sent to investors on Monday.

TXNM Energy Price Performance

NYSE TXNM opened at $59.23 on Monday. The business has a 50 day simple moving average of $58.83 and a 200 day simple moving average of $58.61. TXNM Energy has a 52-week low of $51.97 and a 52-week high of $59.52. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.36 and a current ratio of 0.55. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 42.61, a PEG ratio of 2.54 and a beta of 0.16.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.09). TXNM Energy had a return on equity of 7.18% and a net margin of 6.96%.The business had revenue of $504.98 million for the quarter, compared to the consensus estimate of $506.24 million. During the same period in the previous year, the company posted $0.19 earnings per share. TXNM Energy’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that TXNM Energy will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 27th will be paid a dividend of $0.4225 per share. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, April 27th. TXNM Energy’s dividend payout ratio is presently 121.58%.

Hedge Funds Weigh In On TXNM Energy

Hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new position in shares of TXNM Energy during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC grew its stake in shares of TXNM Energy by 280.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,026 shares of the company’s stock worth $58,000 after acquiring an additional 756 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of TXNM Energy during the 4th quarter worth approximately $74,000. Jones Financial Companies Lllp grew its stake in shares of TXNM Energy by 574.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,294 shares of the company’s stock worth $73,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of TXNM Energy by 81.8% during the 3rd quarter. Larson Financial Group LLC now owns 1,385 shares of the company’s stock worth $78,000 after acquiring an additional 623 shares in the last quarter. 91.68% of the stock is 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. 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.