Latest news with #TXNMEnergy
Yahoo
22-05-2025
- Business
- Yahoo
TXNM Energy, Inc. (NYSE:TXNM)'s Acquisition By Blackstone Is 'Great,' Says Jim Cramer
We recently published a list of Jim Cramer Reveals 'Quiet' Stock That Goes Up In This List Of 12 Stocks. In this article, we are going to take a look at where TXNM Energy, Inc. (NYSE:TXNM) stands against other stocks that Jim Cramer recently discussed. In a recent appearance on CNBC's Squawk on the Street, Jim Cramer commented on the recent downgrade of US credit. In a surprising development that led markets to end flat during the day, ratings agency Moody's downgraded America's perfect credit rating from the highest rating of AAA to AA+. Mentioning the development, Cramer said: "No we gotta go back to when there was a surprise. Of course when we saw S&P downgrade our. . .debt Triple A to AA+. And that was, you know we got hit pretty badly, down 6.6% in August 5th of 2011. But then we had, we had Fitch downgrade us. And that was not that bad. That was a down 1.38, when. . .And David, what's happening, that didn't happen then, was that is an alternative, the money keeps going to these European stocks. And it's rather amazing because when you look at dollar denominated, you. . .Germany and Spain up 30%!" The CNBC host also linked the lack of faith in US debt with younger generations relying on Bitcoin. He outlined: "Well, I think that Bitcoin is where, I was doing a bottle signing for my wife. . . .younger people, they don't wanna talk about stocks. They just talk about how, what a mess this debt is. So we're buying crypto. And one of them said really interesting, which was like, the President is no longer as focused on the market. President's focused on Bitcoin. Now, I think that there have been a series of articles about the President and Bitcoin. Not that complementary. But, it does point out to the fact that he sees more than. . ." To make our list of the stocks that Jim Cramer talked about, we listed down the stocks he mentioned during CNBC's Squawk on the Street aired on May 19th. For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Number of Hedge Fund Holders In Q4 2024: 30 TXNM Energy, Inc. (NYSE:TXNM) is a mid-sized utility that caters to the needs of consumers in New Mexico. Its shares jumped by a 7% in May after investment giant Blackstone announced that it would acquire the firm. Cramer believes the move is part of Blackstone expanding its presence in the data center space. Here is what he said: "We know Blackstone has a lot of data centers. We know TXNM is in the area with a lot of data centers. I still think this is motivated by the need to have cheap power. Although remember, they are not a generator. Overall, TXNM ranks 9th on our list of stocks that Jim Cramer recently discussed. While we acknowledge the potential of TXNM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than TXNM but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
20-05-2025
- Business
- Yahoo
Why TXNM Energy Inc. (TXNM) Surged Today
We recently published a list of . In this article, we are going to take a look at where TXNM Energy Inc. (NYSE:TXNM) stands against other stocks that stole the show today. Ten mid-cap companies from diverse sectors stood out on Monday, outperforming the lackluster performance of major indices, thanks to a flurry of corporate developments that sparked investor appetite. While the firms boasted between 5 and 14 percent gains, the Dow Jones rose by only 0.32 percent, while the S&P 500 and the tech-heavy Nasdaq each inched up by 0.09 percent and 0.02 percent, respectively. In this article, we list the names of the top-performing stocks and detail the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume. TXNM Energy saw its share prices rally by 6.98 percent to close at $56.57 apiece following news that it is set to be acquired by one of the largest investment management companies, Blackstone Inc., for $11.5 billion. In a statement, Blackstone said its infrastructure arm inked an agreement with TXNM Energy, Inc. (NYSE:TXNM) to acquire its shares for $61.25 apiece. The price represented an 8-percent upside from its closing price on Monday, as well as a 23-percent premium to its 30-day volume-weighted average price (VWAP) as of March 5, 2025, the day prior to an article reporting a developing acquisition for TXNM Energy. According to Blackstone, the transaction will be funded through equity and assumption of existing debt, and no incremental debt will be issued as a result of the transaction. The transaction is expected to be closed in the second half of 2026, subject to regulatory approvals and customary closing conditions. Overall, TXNM ranks 7th on our list of stocks that stole the show today. While we acknowledge the potential of TXNM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that has gone up since the beginning of 2025, while popular AI stocks have lost around 25%. If you are looking for an AI stock that is more promising than TXNM but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Yahoo
19-05-2025
- Business
- Yahoo
PNM parent company announces $11.5B proposed sale to Blackstone Infrastructure
A proposed deal to sell PNM's parent company to a private equity firm would keep the company headquartered in New Mexico TXNM Energy, the parent company for New Mexico Public Service Company of New Mexico, announced early Monday morning it has entered an agreement to be acquired by Blackstone Infrastructure, in a deal valued at $11.5 billion. A PNM news release says the deal, if approved by the New Mexico Public Regulation Commission, along with Texas and federal regulators, would leave the company headquartered in New Mexico. 'This agreement will provide the financial resources necessary to thrive in this rapidly changing energy environment,' PNM President and CEO Don Tarry said in a statement 'Our focus has been and will continue to be on serving our customers with safe, reliable energy. This investment will help us meet the considerable growth in demand while supporting the transition to a clean energy future and unlocking New Mexico's potential for economic growth.' Under the proposed agreement, Blackstone Infrastructure will acquire TXNM Energy for $61.25 per share upon closing for a 'total enterprise value of $11.5 billion — including net debt — and TXNM Energy's stock would no longer be publicly traded. A news release says the company expects the process to be completed in the second half of 2026. Blackstone, which has $60 billion of assets under management, focuses on North American infrastructure platforms. The Wall Street Journal reports in the interim, Blackstone Infrastructure plans to invest $400 million in TXNM through the purchase of 8 million newly issued shares at $50 apiece to support TXNM's plans for growth. 'PNM has done an excellent job of transitioning its generation portfolio to clean energy and supporting the communities it serves,' Sean Klimczak, Blackstone's global head of infrastructure, said in a statement. 'We will utilize our long-term investment approach to support PNM's economic development efforts during New Mexico's sustainable generation transition. We share PNM's deep commitment to the customers and communities they serve and we look forward to meaningfully engaging with PNM's stakeholders.' TXNM's stocks reportedly rose 7% to a record high on Monday following the announcement.
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Business Standard
19-05-2025
- Business
- Business Standard
Blackstone to acquire TXNM Energy for $11.5 bn, bets on US energy demand
Blackstone Infrastructure is set to acquire utility firm TXNM Energy in an $11.5 billion deal (including debt), as the investment firm bets on rising US power demand and the transition towards cleaner energy, Reuters reported. TXNM's stock rose 9.2 per cent to $57.75 in pre-market trading on Monday after the New Mexico utility announced an all-cash offer from Blackstone Infrastructure valuing the company at $61.25 per share—approximately a 15 per cent premium to its previous closing price, according to LSEG data. With US power demand projected to reach an all-time high in 2025—driven by energy-intensive AI and cryptocurrency data centres along with increasing residential and commercial consumption—more companies are investing in utilities. Utility NRG Energy announced last week its plans to acquire certain power-generation assets from energy infrastructure investor LS Power in a transaction valued at about $12 billion. Blackstone was reportedly in talks to acquire the New Mexico- and Texas-focused utility, Reuters reported last week, citing sources familiar with the matter. Managing $60 billion in infrastructure assets, Blackstone views TXNM as a sound long-term investment due to its stable, regulated returns and the substantial capital required for grid modernisation. The long-term capital from Blackstone is expected to help TXNM meet its clean energy goals and rising electricity demand while maintaining grid reliability, the utility stated. It also plans to raise an additional $400 million in equity prior to completing the Blackstone deal. According to its official website, TXNM Energy supplies power to about 800,000 residential and commercial customers across New Mexico and Texas. Chief Executive Officer Pat Collawn will step down upon closure of the deal—anticipated in the latter half of 2026—and will be succeeded by company insider Don Tarry, TXNM Energy added.
Yahoo
19-05-2025
- Business
- Yahoo
UK's BNPL regulations, Blackstone deal, Nippon Steel & US Steel
Yahoo Finance host Madison Mills tracks today's top moving stocks and biggest market stories in this Market Minute. New UK regulations will require buy now, pay later lenders to check shoppers' affordability before offering loans and provide quicker refund access. Blackstone (BX) is acquiring TXNM Energy (TXNM) for nearly $5.7 billion, marking another move in the growing energy sector. Nippon Steel (NISTF, NPSCY) plans to invest $14 billion in US Steel (X) operations if its acquisition bid is approved. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute.
