TXNM Energy (NYSE:TXNM) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• TXNM Energy shares moved above their 200-day moving average, trading as high as $58.85 versus a $58.37 average and last changing hands at about $58.81.
• Analyst sentiment is broadly positive: the stock has a consensus Buy rating, with recent upgrades from Weiss Ratings and Wall Street Zen.
• Quarterly earnings beat expectations at $1.62 per share, though revenue came in below estimates. The company declared a $0.4225 quarterly dividend, equivalent to a 2.9% yield.

TXNM Energy, Inc. (NYSE:TXNM - Get Free Report)'s share price 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.

Analyst Upgrades and Downgrades

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

TXNM Energy Price Performance

The firm has a 50 day simple moving average of $58.39 and a 200-day simple moving average of $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. The company has a market cap of $6.48 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.51 and a beta of 0.17.

TXNM Energy (NYSE:TXNM - Get Free Report) last announced its earnings results on Friday, October 30th. The company reported $1.62 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.09. The business had revenue of $733.29 million during the quarter, compared to the consensus estimate of $749.61 million. TXNM Energy had a net margin of 9.88% and a return on equity of 9.17%. As a group, research analysts predict that TXNM Energy, Inc. will post 3.07 earnings per share for the current fiscal year.

TXNM Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be given a $0.4225 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $1.69 dividend on an annualized basis and a dividend yield of 2.9%. TXNM Energy's payout ratio is presently 80.86%.

Institutional Investors Weigh In On TXNM Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of TXNM. Focus Advisor Solutions LLC acquired a new position in shares of TXNM Energy during the third quarter worth $489,000. Voya Investment Management LLC grew its stake in TXNM Energy by 6.6% during the 3rd quarter. Voya Investment Management LLC now owns 20,803 shares of the company's stock worth $1,213,000 after buying an additional 1,279 shares during the last quarter. Rothschild Investment LLC increased its position in TXNM Energy by 3,844.8% during the 3rd quarter. Rothschild Investment LLC now owns 4,576 shares of the company's stock valued at $267,000 after buying an additional 4,460 shares in the last quarter. HighTower Advisors LLC increased its position in TXNM Energy by 96.4% during the 3rd quarter. HighTower Advisors LLC now owns 12,364 shares of the company's stock valued at $721,000 after buying an additional 6,069 shares in the last quarter. Finally, Carlson Capital L.P. raised its stake in TXNM Energy by 73.3% in the third quarter. Carlson Capital L.P. now owns 26,000 shares of the company's stock valued at $1,516,000 after buying an additional 11,000 shares during the last quarter. 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.

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