TXNM Energy (NYSE:TXNM) Shares Break Below Two Hundred Day Moving Average – Here’s Why

TXNM Energy, Inc. (NYSE:TXNM) shares crossed 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TXNM shares. Wall Street Zen raised TXNM Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of TXNM Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

TXNM Energy Stock Performance

The stock has a 50-day simple moving average of $58.24 and a 200-day simple moving average of $58.40. 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 PE ratio of 27.93, a P/E/G ratio of 2.52 and a beta of 0.17.

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

TXNM Energy Dividend Announcement

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

Hedge Funds Weigh In On TXNM Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pentwater Capital Management LP acquired a new stake in shares of TXNM Energy in the second quarter valued at approximately $368,360,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of TXNM Energy by 420.4% in the first 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 buying an additional 1,227,627 shares during the period. Hsbc Holdings PLC bought a new position in TXNM Energy during the 2nd quarter worth about $50,713,000. Alberta Investment Management Corp acquired a new position in TXNM Energy during the 2nd quarter worth approximately $44,935,000. Finally, Bank of New York Mellon Corp bought a new position in TXNM Energy in the second quarter valued at $42,214,000. Institutional investors and hedge funds own 91.68% of the company’s stock.

About TXNM Energy

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.