PNM RESOURCES INC (TXNM)

Consumer and renewable energy advocates say the stock transaction gave Blackstone an early stake in TXNM Energy before regulators could negotiate acquisition-related conditions or customer protections. The companies deny wrongdoing.

TXNM Energy reported $23.8M in ongoing net earnings and a $10.2B five-year capital plan. The Blackstone Infrastructure merger remains on track for...

TXNM Energy CEO Don Tarry told the New Mexico Public Regulation Commission it would have been better to seek PRC approval before a $400 million stock sale to Blackstone, as regulators and protesters in Albuquerque scrutinize the proposed $11.5 billion TXNM-Blackstone acquisition.

That would mark a 48% jump in earnings from a year earlier, though the forecast reflects a sequential decline from the $0.48 per share TXNM earned in the fourth quarter—typical seasonality for utilities as heating demand moderates. The six analysts covering TXNM rate the stock a hold, with ...

For a discussion of risk factors ... price of TXNM Energy's common stock may fluctuate during the pendency of the proposed transaction and may decline significantly if the proposed transaction is not completed. Other unpredictable or unknown factors not discussed in this communication could also hav…