Company Overview - TXNM Energy has a market capitalization of $6.42 billion, with a revenue of $2.11 billion and a net income of $176.92 million for the trailing twelve months [5] - The company operates a regulated utility business model, providing electricity generation, transmission, and distribution services primarily in New Mexico and Texas [8] - TXNM Energy serves a diversified customer base, including residential, commercial, and industrial users, and leverages a diverse energy mix, including renewables, to ensure reliable service and stable cash flows [9] Recent Developments - Athos Capital disclosed a new position in TXNM Energy, acquiring 142,842 shares valued at $8.08 million, which represents approximately 5.06% of the fund's reportable U.S. equity assets [2][3][6] - As of the latest filing, TXNM Energy shares were priced at $58.92, reflecting a 23% increase over the past year, outperforming the S&P 500, which rose by 16% in the same period [4] Financial Performance - TXNM Energy reported third-quarter GAAP earnings of $1.22 per share, with ongoing earnings of $1.33, supported by approved rate increases in New Mexico and transmission recovery in Texas [11] - The company is investing heavily in grid infrastructure and energy storage, including a $78 million battery project linked to existing solar assets [11] Market Position and Outlook - TXNM Energy is undergoing a pending acquisition by Blackstone Infrastructure at a price of $61.25 per share, which may cap the upside potential for investors [10] - The company is not reaffirming its 2025 guidance while the acquisition transaction is pending, and regulatory approvals could extend into late 2026 [11]
TXNM Energy Stock Hits Records as One Fund Builds an $8 Million Position