TXNM Energy, Inc. (TXNM)

TXNM Energy's stock has been impacted by its proposed acquisition by Blackstone Infrastructure. Shareholders approved the acquisition on August 28, 2025. Regulatory approvals have been a key focus, with FERC and PUCT approving the transaction. Approvals from the Nuclear Regulatory Commission and the NMPRC are still pending, with the closing anticipated in the second half of 2026. TXNM Energy reported its first-quarter 2026 results on May 1, 2026, with GAAP diluted EPS of $0.03 and ongoing diluted EPS of $0.21. The company updated its five-year capital investment plan for 2026-2030 to $10.2 billion. The stock price has increased by 3.22% over the past six months and 10.55% over the past year.

Demand for TXNM Energy's electricity exhibits seasonality in New Mexico and Texas. Consumption peaks in the summer due to cooling demand and in the winter due to heating needs. Milder temperatures during spring and fall generally lead to lower and more stable electricity demand.

TXNM Energy, Inc. is an energy holding company providing electricity and electric services to over 800,000 homes and businesses in New Mexico and Texas through its utilities, PNM and TNMP. The company operates in the Utilities sector, focusing on electric utilities, transmission and distribution, and power generation. TXNM Energy aims to achieve 100% carbon-free energy by 2040.

TXNM Energy's operations are concentrated in New Mexico and Texas. PNM serves nearly 550,000 customers in New Mexico, including Albuquerque and Santa Fe. TNMP serves over 260,000 customers in high-growth areas of Texas, such as the Gulf Coast and Permian Basin.

TXNM Energy emphasizes enhancing customer experience through service improvements and customer engagement. TNMP has been recognized for its hurricane response efforts. However, the proposed acquisition by Blackstone Infrastructure has drawn scrutiny, with concerns raised about potential rate increases and the company's financial structure under new ownership.

TXNM Energy's ownership is predominantly institutional. As of February 2025, institutional holdings accounted for 95.7% of the company's outstanding shares, and in 2026, institutional shareholders owned 99.98% of the company. Major institutional shareholders include BlackRock, Inc., The Vanguard Group, Inc., Blackstone Group Inc., State Street Corporation, and others. Insider ownership represents a smaller portion, at approximately 1.24%.