TXNM Energy, Inc. (NYSE:TXNM) Given Consensus Recommendation of “Hold” by Analysts

Shares of TXNM Energy, Inc. (NYSE:TXNM) have earned an average rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $58.4167.

TXNM has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of TXNM Energy in a report on Monday, December 29th. Jefferies Financial Group lowered shares of TXNM Energy from a “buy” rating to a “hold” rating and lifted their price objective for the company from $58.00 to $61.25 in a research note on Monday, October 27th. Citigroup began coverage on shares of TXNM Energy in a research report on Thursday, October 9th. They set a “neutral” rating and a $61.25 target price on the stock. Finally, Wall Street Zen cut shares of TXNM Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 31st.

Insiders Place Their Bets

In related news, Director Vicky A. Bailey sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $57.74, for a total transaction of $103,932.00. Following the transaction, the director directly owned 8,725 shares of the company’s stock, valued at approximately $503,781.50. This represents a 17.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On TXNM Energy

A number of institutional investors have recently modified their holdings of TXNM. Vanguard Group Inc. increased its stake in TXNM Energy by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 11,899,308 shares of the company’s stock valued at $700,631,000 after purchasing an additional 330,382 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of TXNM Energy by 344.9% in the third 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of TXNM Energy by 2.9% during the second quarter. Geode Capital Management LLC now owns 2,275,324 shares of the company’s stock valued at $128,169,000 after buying an additional 63,240 shares during the last quarter. Norges Bank bought a new stake in shares of TXNM Energy during the second quarter worth about $99,354,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of TXNM Energy by 83.1% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,762,758 shares of the company’s stock worth $99,279,000 after acquiring an additional 800,258 shares in the last quarter. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Price Performance

Shares of NYSE TXNM opened at $58.89 on Thursday. The company has a market capitalization of $6.41 billion, a PE ratio of 34.44, a P/E/G ratio of 2.52 and a beta of 0.16. The company has a quick ratio of 0.36, a current ratio of 0.51 and a debt-to-equity ratio of 1.35. The firm has a fifty day simple moving average of $58.84 and a 200 day simple moving average of $57.63. TXNM Energy has a twelve month low of $47.21 and a twelve month high of $59.47.

TXNM Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Friday, January 30th will be paid a $0.4225 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.69 annualized dividend and a dividend yield of 2.9%. This is a boost from TXNM Energy’s previous quarterly dividend of $0.41. TXNM Energy’s dividend payout ratio (DPR) is 98.83%.

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.