TXNM Energy (NYSE:TXNM) Shares Break Below 200-Day Moving Average – Time to Sell?

TXNM Energy, Inc. (NYSE:TXNM) shares crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $58.40 and traded as low as $58.37. TXNM Energy shares last traded at $58.38, with a volume of 967,788 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on TXNM. Weiss Ratings raised TXNM Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, TXNM Energy has an average rating of “Buy”.

TXNM Energy Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 1.44. The stock’s 50-day moving average price is $58.24 and its 200-day moving average price is $58.40. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 2.53 and a beta of 0.17.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings results on Friday, October 30th. The company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.09. The business had revenue of $733.29 million during the quarter, compared to analyst estimates of $749.61 million. TXNM Energy had a net margin of 9.04% and a return on equity of 8.11%. Equities research analysts anticipate that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.69 annualized dividend and a yield of 2.9%. TXNM Energy’s dividend payout ratio is currently 93.37%.

Institutional Investors Weigh In On TXNM Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pentwater Capital Management LP acquired a new stake in TXNM Energy in the second quarter worth about $368,360,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in TXNM Energy by 420.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock valued at $88,839,000 after purchasing an additional 1,227,627 shares during the period. Governors Lane LP lifted its position in TXNM Energy by 142.8% during the 2nd quarter. Governors Lane LP now owns 1,079,170 shares of the company’s stock valued at $61,275,000 after purchasing an additional 634,756 shares during the period. Gabelli Funds LLC lifted its position in TXNM Energy by 2.1% during the 1st quarter. Gabelli Funds LLC now owns 893,714 shares of the company’s stock valued at $52,247,000 after purchasing an additional 18,550 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of TXNM Energy in the 2nd quarter valued at about $50,713,000. 91.68% of the stock is owned by institutional investors and hedge funds.

TXNM Energy Company Profile

TXNM Energy Inc (NYSE:TXNM) is an energy holding company that provides electricity and related utility services through its regulated subsidiaries. Its principal businesses are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP), which operate electric generation, transmission and distribution systems.

PNM serves residential, commercial and industrial customers in New Mexico, while TNMP provides regulated electric distribution service to communities in Texas.