PNM Resources Inc Stock: Stable Utility Provider in Southwest US Faces Energy Transition Challenges
PNM Resources Inc (PNM) is a stable electric utility provider in New Mexico and Texas, serving over 800,000 customers. The company operates under a regulated model, ensuring predictable returns, and is actively transitioning to cleaner energy sources while balancing fossil fuels. While offering defensive qualities and growth potential for North American investors, PNM faces risks such as regulatory approvals, climate impacts, and interest rate sensitivity, making investor monitoring of rate cases and project milestones crucial.
PNM Resources Inc Stock: Stable Utility Provider in Southwest US Faces Energy Transition Challenges
PNM Resources Inc (PNM) is a regulated utility providing electricity in New Mexico and Texas, known for its stable revenue and defensive qualities. The company is actively transitioning to cleaner energy sources while balancing affordability and grid resilience, appealing to North American investors seeking consistent returns and exposure to the clean energy transition. Key challenges include regulatory risks, wildfire threats, and interest rate sensitivity, which investors monitor closely.
Blazin Zia Mechanical partners with PNM for ‘AC Tune Up’ program
Blazin Zia Mechanical has partnered with PNM Resources to offer an "AC Tune Up" program for eligible residential electric account holders. The program aims to help customers ensure their HVAC systems are operating efficiently as temperatures rise. Blazin Zia Mechanical owner Carlos Salazar and consultant Jasmine Hang are discussing this new initiative, with PNM outlining specific requirements for participation.
PNM Resources, Inc. Declares Regular Quarterly Dividend, Payable on November 10, 2023
PNM Resources, Inc. announced that its Board of Directors declared a regular quarterly dividend of $0.3675 per share on the company's common stock. This dividend is scheduled to be paid on November 10, 2023, to shareholders of record as of October 27, 2023. The declaration was made at a board meeting held on September 19, 2023.
PNM - PNM Resources, Inc. Latest Stock News & Market Updates
This page provides dedicated news and analysis for PNM Resources (Ticker: PNM), a key operating subsidiary of TXNM Energy, Inc., focusing on its utility operations in New Mexico. It aggregates disclosures regarding earnings, capital investments, regulatory proceedings, and strategic initiatives like joining the California Independent System Operator’s Extended Day-Ahead Market. Recent news highlights include Q2 2020 earnings, a quarterly common stock dividend declaration, and affirmations of 2020 earnings guidance despite challenges.
Public Service Company of New Mexico Declares Preferred Dividend
The Board of Directors of Public Service Company of New Mexico, a subsidiary of TXNM Energy, has declared a regular quarterly dividend of $1.145 per share on its 4.58 percent series of cumulative preferred stock. This dividend is payable on April 15, 2026, to shareholders of record as of March 31, 2026. TXNM Energy is an energy holding company providing services to over 800,000 customers across Texas and New Mexico.
PNM Resources: Fourth Quarter Earnings Overview
PNM Resources Inc. reported a net loss of $9.7 million, or 8 cents per share, in the fourth quarter, with adjusted earnings of 48 cents per share and $533.2 million in revenue. For the full year, the company posted a net income of $151.9 million, or $1.48 per share, on total revenue of $2.17 billion.
PNM Resources: Q4 Earnings Snapshot
PNM Resources Inc. (TXNM) reported a loss of $9.7 million in its fourth quarter, translating to a loss of 8 cents per share, though adjusted earnings were 48 cents per share. The power company posted revenue of $533.2 million for the quarter. For the full year, PNM Resources reported a profit of $151.9 million on revenues of $2.17 billion.
TXNM Energy Board Declares Quarterly Common Stock Dividend
TXNM Energy, Inc. has announced a regular quarterly dividend of $0.4225 per share on its common stock, payable on May 15, 2026, to shareholders of record as of April 27, 2026. The energy holding company, based in Albuquerque, New Mexico, provides energy services to over 800,000 customers across Texas and New Mexico.
NM residents take control of state meeting’s public comment to oppose PNM private equity acquisition
New Mexico residents used the public comment period of a New Mexico Public Regulation Commission (PRC) meeting to voice strong opposition to a proposed $11.5 billion private equity acquisition of PNM’s parent company, TXNM Energy Inc, by Blackstone Infrastructure. Despite the topic not being on the agenda, attendees argued that such a deal would prioritize corporate profits over public interest and cited concerns about a $400 million stock sale that New Mexico Attorney General Raúl Torrez believes broke the law. Formal hearings on the acquisition are scheduled to begin on May 4.
FERC Authorizes TXNM Energy Acquisition by Blackstone Infrastructure, Finds Transaction Consistent with Public Interest
The Federal Energy Regulatory Commission (FERC) has authorized the acquisition of TXNM Energy by Blackstone Infrastructure, stating that the transaction is consistent with the public interest. FERC found no evidence of adverse effects on state or federal regulation, rates, or competition. This approval follows earlier regulatory approvals and shareholder consent, though federal and state approvals are still pending from the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission.
NM AG raises questions about $400M stock sale in proposed PNM acquisition
New Mexico Attorney General Raúl Torrez has asked state utility regulators to review a $400 million stock sale between PNM’s parent company, TXNM Energy Inc., and a Blackstone affiliate, alleging it may have violated state law. This action comes amidst a proposed $11.5 billion acquisition of TXNM by Blackstone Infrastructure. Both the AG's office and clean energy advocates argue that the stock sale should have been overseen by the Public Regulation Commission, potentially jeopardizing the acquisition deal.
The Truth About PNM Resources Inc: Is This Quiet Utility Stock a Secret Power Play?
This article examines PNM Resources Inc., a regulated utility stock, to determine if it's a valuable addition to an investment portfolio, especially for those seeking stability over high-growth. It highlights the company's predictable revenue, dividend potential, and defensive characteristics, contrasting it with more volatile meme stocks and emphasizing its role as a steady, long-term investment. The author advises cautious investors to consider PNM for its income-focused exposure and stability, particularly during market downturns.
The Truth About PNM Resources Inc: Is This Quiet Utility Stock a Secret Power Play?
This article explores whether PNM Resources Inc, a regulated utility stock, is a worthwhile investment despite its lack of "hype" compared to meme stocks. It highlights PNM's predictable power delivery, steady returns, and dividend income potential, framing it as a defensive play for long-term, stability-seeking investors. The piece contrasts PNM with flashier investments, noting its value in a balanced portfolio, especially during market volatility.
Texas Commission Approves TXNM Energy Acquisition by Blackstone Infrastructure
The Public Utility Commission of Texas has approved the acquisition of TXNM Energy by Blackstone Infrastructure, noting it is in the public interest. The settlement includes $45 million in rate credits for customers, strong governance, financial protections, and commitments to fund capital expenditure plans and support Texas communities. This approval follows federal regulatory clearances and overwhelming shareholder approval but still requires additional federal and state approvals.
PNM Resources: Regulated Utility Calm While Arbitrage Trade Tests Investor Nerves
PNM Resources is behaving like a merger-arbitrage play due to its pending acquisition by Avangrid, causing investor skepticism. Despite its regulated utility nature, the stock's performance has been underwhelming over the past year, with ongoing regulatory delays and mixed analyst sentiment. The future of PNM's stock hinges on the merger's resolution and its core utility fundamentals.
New Mexico prepares for winter storm with power and travel safety measures
New Mexico is bracing for an incoming winter storm, prompting PNM to urge residents to prepare for potential power outages by assembling an emergency kit and signing up for the LifeWatch program if they rely on medical equipment. Additionally, the Department of Transportation and AAA are advising travelers to prepare emergency car kits and exercise extreme caution on the roads, emphasizing the importance of checking conditions and slowing down, especially near snowplows.
The Truth About PNM Resources Inc: Quiet Utility Stock, Loud Payoff Potential?
This article examines PNM Resources Inc. (PNM), a utility stock that is currently undergoing a cash buyout. It discusses the potential for a small, predictable payout for investors, contrasting it with high-growth or viral meme stocks. The piece highlights the low-risk, low-reward nature of investing in PNM prior to the deal's finalization, appealing to those interested in merger arbitrage and stable, defensive plays.
Report: PNM holding company considers sale year after Avangrid merger deal failed
This article indicates that the content requested is unavailable due to "Too Many Requests". It suggests a potential report about PNM's holding company considering a sale, following the failed Avangrid merger. However, no actual content is provided to confirm or elaborate on this.
Collawn Prepares to Hand Off CEO Reins at TXNM
TXNM Energy Inc. CEO Pat Collawn will transition to executive chair on July 1, with President and COO Don Tarry succeeding her as CEO. Collawn has led the company since 2012, overseeing significant growth in revenues and customers. Tarry, a long-time company veteran, will take over leadership following a recent period of change for TXNM.
TXNM Energy: Profit From Positive Demographics And Data Center Expansion (NYSE:TXNM)
TXNM Energy, serving customers in Texas and New Mexico, aims to capitalize on strong demographic growth and increasing electricity demand from data centers, particularly in Texas. The company plans significant infrastructure investments and forecasts 7-9% EPS growth over the next five years, offering an attractive total annual return of 11-12% despite high leverage and potential shareholder dilution.
Report: PNM’s parent company exploring sale following takeover interest
TXNM Energy Inc., the parent company of PNM, is reportedly exploring a potential sale after receiving takeover interest. This development comes as the company continues to meet its earnings goals and project future growth. A sale would require approval from the New Mexico Public Regulation Commission, similar to a previously rejected merger attempt.
PNM Resources: Q3 Earnings Snapshot
PNM Resources reported its third-quarter earnings, which showed a decrease in profit compared to the same period last year. The company's revenue for the quarter also fell short of analyst expectations. This snapshot provides key financial figures for the utility.
PNM Resources: Q3 Earnings Snapshot
PNM Resources Inc. reported third-quarter earnings of $136.3 million, resulting in a profit of $1.22 per share. Adjusted for non-recurring costs, the company's earnings were $1.33 per share, with revenue reaching $647.2 million for the period.
PNM maintaining assistance for furloughed federal workers - KOAT
PNM is offering assistance to federal workers who have been furloughed and are experiencing financial hardship. This includes payment arrangements, assistance programs, and a suspension of disconnections for furloughed customers. Furloughed employees can submit a "Furloughed Federal Employee Special Consideration Request Form" to request more time to pay their PNM bill.
New Mexico electric utility PNM files application for $11.5B Blackstone acquisition
Public Service Company of New Mexico (PNM) and its parent company TXNM Energy have filed an application with the state's Public Regulation Commission for a proposed $11.5 billion acquisition by private equity firm Blackstone Infrastructure. PNM highlights that the deal would provide financial resources for grid transformation and continued rooting in New Mexico, with commitments including customer rate credits and investments in economic development and energy transition goals. However, groups like New Energy Economy plan to intervene, raising concerns about potential threats to ratepayers and communities.
MON: TXNM Energy, PNM’s parent company, files $11.5 billion Blackstone acquisition with state regulators, + More
TXNM Energy, the parent company of PNM, and Blackstone Infrastructure have filed their $11.5 billion acquisition plan with state regulators in New Mexico and Texas. This proposed sale, occurring five years after a failed merger attempt with Avangrid, aims to reshape New Mexico's energy sector and promises $105 million in residential rate credits. Despite potential benefits such as significant investments in technology and economic development, the deal faces opposition from groups like New Energy Economy, who argue it poses risks to residents, workers, and the environment.
New Mexico electric utility PNM files application for $11.5B sale to Blackstone
Public Service Company of New Mexico (PNM) and its parent company TXNM Energy have filed an application with New Mexico's Public Regulation Commission for an $11.5 billion acquisition by Blackstone Infrastructure. The deal aims to provide financial resources for PNM to strengthen the state's electricity grid and transition to carbon-free energy, while Blackstone has committed to keeping PNM headquartered in New Mexico and providing customer rate credits and investments. However, the New Energy Economy group plans to intervene, expressing concerns about the deal's potential threat to ratepayers and communities.
Blackstone to acquire US utility TXNM for $5.7bn
Blackstone's infrastructure arm is set to acquire US utility TXNM Energy in a $5.7 billion all-cash deal, valuing the company at $11.5 billion including debt. This acquisition highlights a growing trend of private equity investment in regulated utilities due to their predictable cash flows. The deal, which still requires approvals from six federal and state agencies, follows a previously blocked takeover attempt by Iberdrola and is expected to have a clearer regulatory path.
PNM Resources Stock Price, News & Analysis
PNM Resources, also known as Public Service Company of New Mexico, is a vertically integrated electric utility operating in New Mexico, serving over 800,000 homes and businesses as a subsidiary of TXNM Energy, Inc. The company manages distribution, transmission, and generation assets, utilizing a diverse energy mix including coal, natural gas, nuclear, and wind resources, with a goal to achieve 100% emissions-free generation by 2040. PNM's financial performance and operational strategies are influenced by regulatory decisions, infrastructure investments, and participation in regional power markets like CAISO's EDAM.
Report: PNM’s parent company exploring sale following takeover interest
TXNM Energy Inc., parent company of PNM, is reportedly considering a sale following takeover interest. This news comes after the company's stocks saw a significant jump and a failed $4.3 billion merger agreement last year. Any potential sale would require approval from New Mexico's Public Regulation Commission.
Solar and battery storage project opens in Bernalillo County for PNM customers
PNM has opened one of the largest solar and energy storage projects in the country in Bernalillo County, New Mexico. The Atrisco Solar and Energy Storage Project, operated by Clēnera, consists of 650,000 panels across 2,300 acres, generating over 300 megawatts, enough to power 110,000 homes. This $850 million facility also includes significant battery storage, enabling consistent renewable energy supply even when cloudy or at night, moving PNM beyond 60% carbon-free and aiming for 100% by 2040.
PNM files application for new resources in 2028
PNM, a subsidiary of TXNM Energy, has filed an application with the New Mexico Public Regulation Commission for new energy resources to be added by summer 2028. This proposed portfolio includes the extension of an existing power purchase agreement and the addition of 430 megawatts of new solar and battery storage to meet future demand and progress towards New Mexico's zero-carbon goals. The plan involves a significant capital investment from PNM, subject to regulatory approval within nine months.
New Mexico regulator approves state utility plan to add 310MW of battery storage by summer 2026
The New Mexico Public Regulation Commission (NMPRC) has approved Public Service Company of New Mexico's (PNM) plan to add 309.5MW of energy storage to its portfolio by summer 2026. This includes energy storage agreements for three projects totaling 249.5MW, a certificate for a 60MW utility-owned battery system, and a solar power purchase agreement. These projects are part of PNM's commitment to achieving a 100% carbon-free resource portfolio by 2045, five years ahead of the state mandate.
PNM Resources Management to Meet with Investors
PNM Resources management will meet with analysts and investors at the RBC Capital Markets Global Energy, Power and Infrastructure Conference, affirming its 2024 consolidated earnings guidance of $2.65 to $2.75 per diluted share. The company, an energy holding company based in Albuquerque, N.M., provides electricity to over 800,000 homes and businesses in New Mexico and Texas, aiming for 100% emissions-free generation by 2040. Presentation materials for the meetings are available on the company's investor relations website.
PNM Resources Completes Sale of Renewable Joint Venture
PNM Resources has completed the sale of its 50% ownership interest in New Mexico Renewable Development, LLC (NMRD) to Exus North America Holdings, LLC for $117 million, which will fund regulated capital investments. The sale, approved by regulatory bodies, includes NMRD's portfolio of nine operating solar developments (185 MW) and six projects under development (440 MW). This transaction follows PNM Resources' previous reporting of NMRD earnings under its Corporate and Other segment.
Iberdrola’s Avangrid Ends $4.3 Billion Deal With PNM Resources
Iberdrola's U.S. renewables subsidiary, Avangrid, has terminated its $4.3 billion merger agreement with power company PNM Resources. Avangrid's decision came after it rejected an extension to the deal's deadline, which was originally reached in October 2020. The merger process had faced significant regulatory opposition, contributing to its eventual collapse.
Avangrid scraps $4.3 billion takeover of PNM Resources
Spain's Iberdrola has terminated its $4.3 billion agreement to acquire PNM Resources, which would have merged with its U.S. renewables business Avangrid. The deal, valued at over $8.5 billion including debt, was scrapped after New Mexico utility authorities rejected it in 2021, leading to a prolonged legal battle. This highlights the significant role state regulators can play in blocking major corporate mergers.
Avangrid to Focus on Internal Growth After Abandoning $4.3 Billion Deal
Avangrid Inc. has decided to prioritize internal growth and its existing $9 billion capital projects, including offshore wind, following the abandonment of its $4.3 billion acquisition of PNM Resources Inc. The company, a US unit of Spain’s Iberdrola SA, will not be pursuing further mergers and acquisitions at this time. This shift comes after the PNM deal, initially announced in 2020, fell through.
PNM Resources Announces Avangrid Termination of Merger Agreement, Schedules Financial Update
PNM Resources announced that Avangrid has terminated their merger agreement, which was initially announced in October 2020. Despite PNM Resources' board approving an extension, Avangrid chose to end the deal. PNM Resources will now focus on its strategic plans for infrastructure investments and will provide a financial update on February 6, 2024, including preliminary 2023 results and 2024 guidance.
Slate of 45 projects selected for New Mexico community solar program
InClime Solutions announced the selection of 45 community solar projects, totaling 200 MW, for New Mexico's community solar program, out of 1.7 GW of submissions. These projects are distributed across the El Paso Electric, Southwestern Public Service Company, and Public Service Company of New Mexico territories. The program, enabled by the 2021 Community Solar Act, mandates that 30% of new projects be reserved for low-income subscribers to promote clean energy accessibility.
Avangrid-PNM merger could get 2nd review by New Mexico’s restructured Public Regulation Commission
New Mexico's restructured Public Regulation Commission (PRC) could re-evaluate Avangrid's proposed $8 billion acquisition of PNM Resources, despite the PRC's previous unanimous rejection in 2021. Governor Michelle Lujan Grisham, who supports the merger, has appointed three new members to the commission, shifting its composition from elected officials to gubernatorial appointees. While the utilities' appeal is still before the New Mexico Supreme Court, experts anticipate the appeal might be withdrawn and the merger refiled before the new commission, despite a recent analysis commissioned by the former PRC warning of anti-competitive concerns and potential monopolistic market control should the merger proceed.
Women of Influence 2022: For Lisa Goodman, impact means more than role or title
This article features Lisa Goodman, director of investor relations and shareholder services for PNM Resources, as part of the "Women of Influence 2022" series. Goodman emphasizes that for her, impact goes beyond just her role or title. She expresses her goal to pursue roles that allow her to be a strategic thought partner and build critical relationships.
New Mexico denies PNM bid to exit Four Corners coal plant, citing lack of replacement resources
New Mexico regulators rejected Public Service Company of New Mexico's (PNM) bid to transfer its 13% share of the Four Corners coal plant due to a lack of identified replacement resources. This decision, which PNM argues would have saved customers $300 million and accelerated its coal exit, was lauded by environmental advocates who believed the transfer would prolong coal use and highlighted the need for a prudence review of PNM's investments in the plant. PNM called the decision "disconcerting" and stated it creates uncertainty about the regulatory environment, while environmental groups emphasized the importance of accountability for past investments and finding true replacement power.
New Mexico regulators unanimously reject Avangrid-PNM merger, but observers see a second chance in 2023
New Mexico regulators unanimously rejected Avangrid's proposed $8 billion acquisition of PNM Resources citing reliability risks, potential for higher prices, and slower renewable development. Despite the denial, observers suggest a second chance for the merger in 2023, as the New Mexico Public Regulation Commission is set to undergo a significant change to an appointed committee with new members. While some advocacy groups lauded the denial as a win for consumers, others expressed disappointment over lost benefits and commitments.
PRC rejects PNM/Avangrid merger
The New Mexico Public Regulation Commission (PRC) unanimously rejected the merger between Avangrid and Public Service Company of New Mexico (PNM), following a recommendation that the risks to customers outweighed the benefits. Commissioners cited Avangrid's past performance issues, concerns about potential rate increases, decreased reliability, and a criminal investigation involving Avangrid's parent company. PNM and Avangrid expressed disappointment and are evaluating their next steps, while opponents of the merger celebrated the decision as a win for consumer protection and fair competition.
Hearing examiner says potential harms outweigh benefits in PNM/Avangrid merger
A hearing examiner for the New Mexico Public Regulation Commission has recommended denying the proposed merger between Public Service Company of New Mexico (PNM) and Avangrid, stating that the potential harms outweigh the benefits. The 445-page report cites concerns including potential risks to ratepayers, Avangrid's regulatory compliance issues in other states, and erosion of PRC jurisdiction. Avangrid maintains the merger would bring over $300 million in benefits to New Mexico and create new jobs.
Avangrid-PNM merger in doubt after New Mexico hearing examiner warns of reliability, oversight issues
A New Mexico hearing examiner has recommended the rejection of Avangrid's proposed $8 billion acquisition of PNM Resources, citing reliability risks and concerns over overestimated benefits and insufficient oversight. The examiner also raised concerns about Avangrid's poor service quality in other regions and a criminal investigation involving Iberdrola's CEO, Avangrid's parent company. The final decision by the New Mexico Public Regulation Commission is anticipated in December.
Avangrid parent company exec agrees to millions of dollars worth of concessions as part of PNM merger
Iberdrola executive Pedro Azagra Blázquez made several compromises on the first day of evidentiary hearings for the proposed merger between PNM and Avangrid. These concessions are part of the ongoing regulatory approval process, with the NMPRC being the final entity to approve the merger. The hearing involved seven hours of testimony from the Iberdrola executive.
Cheniere Appoints Patricia Collawn and Lorraine Mitchelmore to Board of Directors
Cheniere Energy, Inc. announced the appointment of Patricia K. Collawn and Lorraine Mitchelmore to its Board of Directors, effective July 1, 2021. Both appointees bring extensive experience from the energy industry, with Collawn serving as Chairman, President and CEO of PNM Resources and Mitchelmore having held leadership roles at Shell and Enlighten Innovations Inc. Their appointments aim to enhance Cheniere's ESG programs, climate strategies, and competitive advantages, while Nuno Brandolini retired from the Board.
