TXNM Energy (NYSE:TXNM) Stock Breaks Above 200-Day Moving Average – Here’s Why

TXNM Energy, Inc. (NYSE:TXNM) shares crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $58.37 and traded as high as $58.85. TXNM Energy shares last traded at $58.8070, with a volume of 1,201,565 shares traded.

Wall Street Analysts Forecast Growth

TXNM has been the topic of several research reports. Wall Street Zen upgraded TXNM Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded TXNM Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, TXNM Energy currently has an average rating of “Buy”.

TXNM Energy Trading Up 0.1%

The stock has a market capitalization of $6.48 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.54 and a beta of 0.17. The stock’s 50 day moving average price is $58.41 and its 200-day moving average price is $58.37. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.53.

TXNM Energy (NYSE:TXNM) last issued its quarterly earnings data on Friday, October 30th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. TXNM Energy had a net margin of 9.88% and a return on equity of 9.17%. The company had revenue of $733.29 million during the quarter, compared to the consensus estimate of $749.61 million. As a group, equities research analysts expect that TXNM Energy, Inc. will post 3.07 earnings per share for the current year.

TXNM Energy Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.69 dividend on an annualized basis and a yield of 2.9%. TXNM Energy’s dividend payout ratio (DPR) is presently 80.86%.

Hedge Funds Weigh In On TXNM Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXNM. Pentwater Capital Management LP acquired a new stake in TXNM Energy during the 2nd quarter worth about $368,360,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake 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 last quarter. Governors Lane LP increased its holdings in shares of TXNM Energy by 142.8% in the second 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 increased its holdings in shares of TXNM Energy by 1.8% in the third quarter. Gabelli Funds LLC now owns 949,896 shares of the company’s stock valued at $55,398,000 after purchasing an additional 16,375 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of TXNM Energy in the second quarter worth about $50,713,000. Hedge funds and other institutional investors own 91.68% of the company’s stock.

About TXNM Energy

TXNM Energy, formerly known as PNM Resources, is an energy holding company based in Albuquerque, New Mexico. Its principal businesses are regulated electric utilities that generate, transmit and distribute electricity. Through Public Service Company of New Mexico, known as PNM, the company serves residential, commercial and industrial customers across much of New Mexico, including the Albuquerque and Santa Fe areas. PNM operates a mix of electricity generation and delivery assets. TXNM Energy also owns Texas-New Mexico Power Company, or TNMP, which operates electric transmission and distribution infrastructure in parts of Texas.