TXNM Energy (NYSE:TXNM) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of TXNM Energy (NYSE:TXNM) from a sell rating to a hold rating in a research report report published on Sunday.

TXNM Energy Stock Up 0.0%

TXNM stock opened at $59.21 on Friday. The stock has a market capitalization of $6.56 billion, a P/E ratio of 42.60, a PEG ratio of 2.53 and a beta of 0.16. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.38 and a current ratio of 0.55. TXNM Energy has a one year low of $51.59 and a one year high of $59.52. The company has a 50 day moving average price of $58.83 and a two-hundred day moving average price of $58.53.

TXNM Energy (NYSE:TXNM) last released its earnings results on Friday, May 1st. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.09). The firm had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $506.24 million. TXNM Energy had a return on equity of 7.25% and a net margin of 6.96%.The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, sell-side analysts expect that TXNM Energy will post 3.09 EPS for the current year.

TXNM Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 27th will be issued a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, April 27th. TXNM Energy’s dividend payout ratio (DPR) is 115.75%.

Hedge Funds Weigh In On TXNM Energy

Hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in shares of TXNM Energy by 55.4% in the 3rd quarter. Principal Financial Group Inc. now owns 330,336 shares of the company’s stock valued at $18,681,000 after purchasing an additional 117,765 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of TXNM Energy in the 3rd quarter valued at $2,880,000. Angelo Gordon & CO. L.P. acquired a new position in shares of TXNM Energy in the 3rd quarter valued at $5,694,000. Athos Capital Ltd acquired a new position in shares of TXNM Energy in the 3rd quarter valued at $8,078,000. Finally, Alpine Global Management LLC acquired a new position in shares of TXNM Energy in the 3rd quarter valued at $1,414,000. 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.