TXNM ENERGY INC (TXNM)
Utilities · Electric Utilities - Transmission, Distribution & Generation · NYSE
TXNM Energy is a regulated electric utility operator in New Mexico and Texas navigating an energy transition from coal to renewables while investing $10.2 billion through 2030 in grid modernization and generation assets.
What TXNM ENERGY INC does
TXNM Energy Inc operates public utility companies serving electric customers across New Mexico and Texas, including Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). The company provides transmission and distribution services, manages generation assets including coal and nuclear plants, and is investing heavily in grid modernization and renewable energy integration. TXNM is subject to rate regulation by state public utility commissions and the Federal Energy Regulatory Commission.
Themes: ["Electric utilities and regulated transmission/distribution","Renewable energy transition","Nuclear generation","Grid modernization","Coal plant retirement and asset transition","Climate regulation and environmental compliance","Infrastructure investment and capital expenditure","Energy transition financing"]
Fundamentals
- Price$56.54 as of 2026-07-09 close
- Market cap$6.2B as of 2026-07-10
- 1-year return+0.4% as of 2026-07-09 close
- P/E42.60 as of 2026-07-10
- Net margin+6.7% as of 2026-07-10
- ROE+4.3% as of 2026-07-10
- Debt / equity1.64 as of 2026-07-10
- Revenue growth (YoY)+8.5% as of 2026-07-10
- Revenue CAGR (3y)-1.3% SEC XBRL
- Beta0.18 as of 2026-07-10
Dividend: yield +3.0%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Regulatory risk: Profitability depends on timely cost recovery and fair rate-of-return authorization from NMPRC, FERC, and PUCT; if regulators deny cost recovery for major capital investments, grid modernization, or asset retirements, liquidity and operations will suffer.","Energy transition risk: Declining customer demand due to energy efficiency initiatives, alternative power sources, and changing customer behaviors places downward pressure on usage while capital costs and renewable integration requirements increase, compressing margins unless rates rise accordingly.","Environmental and climate regulation risk: Compliance with federal, state, and local environmental laws including climate change regulations, coal ash handling (CCR), and emissions standards may impose significant capital and operating costs that could threaten the viability of certain generating facilities."]
Competitors & peers
- American Electric Power Inc (AEP)
- Duke Energy (DUK)
- Southern Company (SO)
- Xcel Energy (XEL)
- NextEra Energy (NEE)
- Arizona Public Service Company (APS)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.