TXNM Energy Inc. Stock Soars on Blackstone Acquisition Deal

On May 19, 2025, TXNM Energy Inc., a holding company that generates, transmits, and distributes electricity primarily in New Mexico, saw its stock price reach an all-time high following the announcement of a significant acquisition deal. Blackstone Infrastructure, a division of the alternative asset manager Blackstone, has agreed to acquire TXNM Energy for $11.5 billion. This acquisition underscores Blackstone’s strategic investment in the utility sector, anticipating a surge in power demand.

The deal was first reported by multiple financial news sources, including Investopedia, Yahoo Finance, and Seeking Alpha, all noting the stock’s unprecedented rise. The acquisition is expected to bolster Blackstone’s infrastructure portfolio, providing long-term investment to support the continued expansion of PNM Resources and TNMP, TXNM Energy’s subsidiaries, in a rapidly evolving energy landscape.

TXNM Energy, listed on the New York Stock Exchange, had a close price of $52.88 on May 15, 2025, with a 52-week high of $56.5 and a low of $35.56. The company’s market capitalization stands at approximately $4.94 billion, with a price-to-earnings ratio of 23.7. Following the acquisition news, Citi raised the stock price target for TXNM Energy to $55 from $53, reflecting the market’s positive outlook on the deal.

The acquisition aligns with Blackstone’s strategy to capitalize on the growing demand for electricity, particularly as New Mexico transitions to clean energy and Texas continues its growth trajectory. This move is expected to facilitate economic development and support infrastructure investments in these regions.

Overall, the Blackstone acquisition of TXNM Energy highlights the increasing interest in utility investments amid a changing energy environment, with significant implications for the company’s future growth and market positioning.