Welcome to our dedicated page for PNM Resources news (Ticker: PNM), a resource for investors and traders seeking the latest updates and insights on PNM Resources stock.
PNM (Public Service Company of New Mexico), a vertically integrated electric utility in New Mexico, is a key operating subsidiary of TXNM Energy, Inc. News related to the PNM (PNM) stock symbol is closely connected to TXNM Energy’s disclosures, because PNM’s distribution, transmission and generation assets form one of the company’s primary reporting segments.
TXNM Energy communications describe PNM as part of a regulated utility group that delivers electricity to more than 800,000 homes and businesses across New Mexico and Texas through PNM and TNMP. News items often highlight segment-level earnings for PNM, including GAAP and non-GAAP ongoing earnings, and explain how factors such as new retail rates, customer usage, weather patterns, transmission margins and depreciation associated with new capital investments influence results.
Company releases also discuss PNM’s role in grid infrastructure and regional market participation. For example, PNM has announced its plan to join the California Independent System Operator’s Extended Day-Ahead Market (EDAM), building on its participation in the Western Energy Imbalance Market. Such announcements are framed around reliability, economic benefits and the use of New Mexico’s renewable energy potential for customers.
Investors following PNM-related news can expect updates on TXNM Energy’s consolidated earnings guidance, capital investment plans, regulatory proceedings affecting PNM’s rates and legacy generation assets, and broader strategic steps such as market participation initiatives. This news page aggregates these disclosures so readers can review how PNM’s utility operations in New Mexico contribute to TXNM Energy’s overall performance and long-term objectives.
TNMP, a subsidiary of TXNM Energy, Inc. (NYSE: TXNM), has received approval from the Public Utility Commission of Texas (PUCT) for two rate base recovery applications. The first, a Transmission Cost of Service (TCOS) filing, was approved on September 20, 2024, allowing for an annual rate increase of $3.9 million to recover $20.6 million of incremental transmission rate base. The second, a Distribution Cost Recovery Factor (DCRF) application, was approved on October 3, 2024, permitting an annual rate increase of $7.7 million to recover $43.7 million of incremental distribution rate base.
TXNM Energy, based in Albuquerque, New Mexico, serves over 800,000 customers in Texas and New Mexico through its regulated utilities, TNMP and PNM. The approved TCOS rates are already in effect, while the DCRF rates will become effective in approximately 45 days.
TXNM Energy (NYSE: TXNM) has announced it will release its third quarter 2024 financial results before the market opens on Friday, November 1, 2024. The company will host a live conference call at 11 a.m. Eastern Time to discuss the results and provide company updates. Investors and analysts can participate by pre-registering or dialing in. A live webcast will also be available on the company's website.
TXNM Energy is an energy holding company based in Albuquerque, New Mexico, serving over 800,000 homes and businesses in Texas and New Mexico through its regulated utilities, TNMP and PNM. The company will post the press release and presentation materials on its website at www.TXNMEnergy.com prior to the call.
PNM Resources (NYSE: PNM) reported its Q2 2024 results, with GAAP earnings of $0.53 per diluted share and ongoing earnings of $0.60 per diluted share. The company affirmed its 2024 ongoing earnings guidance range of $2.65 - $2.75 per share. PNM Resources announced a name change to TXNM Energy (NYSE: TXNM), expected to begin trading on August 5, 2024. Q2 2024 GAAP net earnings were $48.0 million, up from $45.3 million in Q2 2023. Ongoing net earnings increased to $54.3 million from $47.4 million year-over-year. The company's performance was driven by new retail rates, load growth, and improved trust performance at PNM, as well as rate recovery at TNMP.
PNM Resources (NYSE: PNM) is set to change its holding company name to TXNM Energy, Inc. (NYSE: TXNM), effective August 2, 2024, at 5:00 pm ET. Trading under the new name and ticker symbol TXNM will begin on August 5, 2024. This change, approved by shareholders and the Board of Directors, reflects the company's evolving business profile.
The rebranding acknowledges the growth of TNMP, the company's Texas subsidiary, which now represents 40% of the rate base. There are no structural or organizational changes associated with the name change, and shareholders don't need to take any action. The company's website will transition to www.txnmenergy.com on August 5, 2024.
PNM Resources, based in Albuquerque, N.M., reported $1.9 billion in consolidated operating revenues for 2023. It serves over 800,000 customers in New Mexico and Texas through its regulated utilities, PNM and TNMP.
PNM Resources (NYSE: PNM), an energy holding company based in Albuquerque, N.M., has declared a regular quarterly dividend of $0.3875 per share on its common stock. The dividend will be payable on August 9, 2024, to shareholders of record at the close of business on July 26, 2024. PNM Resources, with consolidated operating revenues of $1.9 billion in 2023, provides electricity to over 800,000 homes and businesses in New Mexico and Texas through its regulated utilities, PNM and TNMP. The company has a diverse mix of generation and purchased power resources totaling 3.1 gigawatts of capacity and aims to achieve 100% emissions-free generation by 2040.
PNM Resources will release its second quarter 2024 financial results before the market opens on July 31, 2024. Management will also host a live conference call at 11 a.m. Eastern Time to discuss these results and other company updates. Investors can access the press release and presentation materials on the company's website at www.PNMResources.com. The call will be available via webcast and telephone, with pre-registration recommended.
PNM Resources, an energy holding company based in Albuquerque, N.M., reported consolidated operating revenues of $1.9 billion in 2023. It provides electricity to over 800,000 customers in New Mexico and Texas, aiming for 100% emissions-free generation by 2040.
Public Service Company of New Mexico (PNM), a subsidiary of PNM Resources, filed for a rate change with the New Mexico Public Regulation Commission (NMPRC), effective July 1, 2025. The request includes a $174.3 million increase in retail revenues, split between a $92.2 million non-fuel base rate hike and an $82.1 million increase in pass-through fuel costs. PNM proposes a phased implementation to ease customer impact. Total rate base recovery of $3.0 billion is sought, including investments in infrastructure, battery storage, and wildfire mitigation. The proposal awaits NMPRC approval.
The Public Utility Commission of Texas (PUCT) has granted Texas-New Mexico Power Company (TNMP), a subsidiary of PNM Resources (NYSE: PNM), approval to recover over $205 million in net distribution infrastructure investments. TNMP's Distribution Cost Recovery Factor (DCRF) application filed in April 2024 was approved, allowing for a $15.7 million annual rate increase effective July 28, 2024. Recent legislation will enable semi-annual filings, reducing regulatory delays. This approval supports TNMP's investment strategy for reliable growth. PNM Resources, an energy holding company, reported $1.9 billion in revenue in 2023 and serves over 800,000 customers in Texas and New Mexico.
PNM Resources (NYSE: PNM) has closed a private offering of $500 million in 5.75% junior subordinated convertible notes due 2054. The initial purchasers have a 13-day option to buy up to an additional $50 million for over-allotments. These unsecured convertible notes are junior to PNM's senior debt. Interest is set at 5.75% per annum, paid semi-annually, with deferral options for up to 20 semi-annual periods. The notes are convertible to shares of PNM stock at an initial rate of 22.4911 shares per $1,000 principal, equating to a conversion price of approximately $44.46 per share. The proceeds will be used to repay part of PNM's term loans.
PNM Resources (NYSE: PNM) has announced the pricing of $500 million in 5.75% junior subordinated convertible notes due 2054. The notes, which will be offered privately to qualified institutional buyers, are unsecured and will rank junior to existing and future senior debt. Interest will be paid semiannually, with deferral options available. The offering includes a 13-day option for purchasers to buy an additional $50 million. The notes can be redeemed under specific conditions starting June 6, 2029. These convertible notes have an initial conversion rate of 22.4911 shares per $1,000 principal and a conversion premium of approximately 17.5%.
PNM Resources aims to close this offering by June 10, 2024, and plans to use proceeds to repay part of its outstanding term loans. This offering is not registered under the Securities Act and is available exclusively to institutional investors under Rule 144A.
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