Welcome to our dedicated page for TXNM Energy news (Ticker: TXNM), a resource for investors and traders seeking the latest updates and insights on TXNM Energy stock.
TXNM Energy, Inc. (NYSE: TXNM) is an energy utility holding company based in Albuquerque, New Mexico that delivers electricity to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). The TXNM Energy news feed highlights developments affecting its regulated electric operations, financial performance and capital structure.
News about TXNM Energy frequently covers quarterly earnings results, where the company reports GAAP and non-GAAP “ongoing” earnings for its PNM, TNMP and Corporate and Other segments. These releases explain how rate decisions, weather, load, capital investments and merger-related costs influence segment earnings. Investors following TXNM news can review detailed reconciliations between GAAP and ongoing earnings and commentary on regulatory and financing developments.
A major focus of recent TXNM Energy news is the proposed acquisition of the company by affiliates of Blackstone Infrastructure Partners L.P. Press releases describe the agreed cash consideration per share, shareholder approval of the merger agreement, and the status of regulatory applications with the New Mexico Public Regulation Commission, Public Utility Commission of Texas, Federal Energy Regulatory Commission and other federal agencies. Additional news items outline customer and community benefits proposed in those regulatory filings, such as rate credits, economic development funding and technology investments.
The company’s news also includes announcements of common and preferred stock dividends, updates on PNM and TNMP regulatory filings, and information on settlements or stipulations in rate and cost recovery proceedings. For TNMP, news has addressed settlements related to the Blackstone Infrastructure acquisition application at the PUCT and commitments regarding governance, financial protections and workforce policies.
By reviewing the TXNM Energy news page, readers can track how regulatory actions, earnings trends, financing transactions and the progress of the planned merger with Blackstone Infrastructure may affect the company’s regulated utilities in Texas and New Mexico. This page provides an organized view of official company communications for those monitoring TXNM’s stock and operations.
Public Service Company of New Mexico, a subsidiary of TXNM Energy (NYSE: TXNM), has declared its regular quarterly dividend on preferred stock. The Board of Directors announced a dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. This dividend is payable on October 15, 2024, to shareholders of record at the close of business on September 30, 2024.
TXNM Energy is an energy holding company based in Albuquerque, New Mexico. It serves over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. This dividend declaration demonstrates the company's commitment to providing consistent returns to its preferred shareholders.
TNMP, a subsidiary of TXNM Energy, Inc. (NYSE: TXNM), has filed its first System Resiliency Plan (SRP) with the Public Utility Commission of Texas. The plan outlines $600 million in capital investments and $151 million in related costs over three years to enhance the resiliency of its distribution system. The SRP includes eight Resiliency Measures focusing on distribution system improvements, modernization, vegetation management, wildfire mitigation, flood mitigation, enhanced technology, and security. This data-driven approach aims to address various risks across TNMP's diverse service territory in Texas. The plan is subject to PUCT approval, with investments recoverable primarily through semi-annual Distribution Cost Recovery Factor filings.
TXNM Energy (NYSE: TXNM), formerly known as PNM Resources, has completed its holding company name change effective August 2, 2024. The company's common stock continues to trade on the New York Stock Exchange under the new ticker symbol TXNM, starting August 5, 2024. The CUSIP number remains unchanged (69349H107).
This name change does not involve any significant structural or organizational changes to the company. Shareholders are not required to take any action, as all outstanding shares of PNM Resources have automatically become TXNM Energy shares. The company has also updated its website to www.txnmenergy.com.
TXNM Energy is an energy holding company based in Albuquerque, NM, serving over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM.
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.