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

TXNM Energy, Inc. (NYSE:TXNM) passed below its 200-day moving average during trading on Friday. The stock has a 200-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 changing hands.

Analyst Ratings Changes

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

TXNM Energy Stock Down 0.5%

The company has a debt-to-equity ratio of 1.44, a current ratio of 0.56 and a quick ratio of 0.39. The stock has a market cap 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. The firm has a 50 day simple moving average of $58.24 and a two-hundred day simple moving average of $58.40.

TXNM Energy (NYSE:TXNM) last posted its earnings results on Friday, October 30th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.09. The company had revenue of $733.29 million during the quarter, compared to analyst estimates of $749.61 million. TXNM Energy had a return on equity of 8.11% and a net margin of 9.04%. As a group, sell-side analysts expect that TXNM Energy, Inc. will post 3.07 EPS for the current year.

TXNM Energy Announces Dividend

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

Institutional Investors Weigh In On TXNM Energy

Several large investors have recently bought and sold shares of the company. Pentwater Capital Management LP bought a new position in shares of TXNM Energy during the second quarter worth $368,360,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in TXNM Energy by 420.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,519,657 shares of the company’s stock worth $88,839,000 after acquiring an additional 1,227,627 shares in the last quarter. Governors Lane LP lifted its holdings in TXNM Energy by 142.8% during the second quarter. Governors Lane LP now owns 1,079,170 shares of the company’s stock worth $61,275,000 after acquiring an additional 634,756 shares in the last quarter. Gabelli Funds LLC lifted its holdings in TXNM Energy by 2.1% during the first quarter. Gabelli Funds LLC now owns 893,714 shares of the company’s stock worth $52,247,000 after acquiring an additional 18,550 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in TXNM Energy in the second quarter valued at about $50,713,000. Institutional investors own 91.68% of the company’s stock.

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.