TXNM Energy - TXNM STOCK NEWS

TXNM Energy reported strong 2024 financial results with GAAP earnings of $2.67 per diluted share and ongoing earnings of $2.74 per diluted share, meeting guidance expectations. The company introduced 2025 ongoing earnings guidance of $2.74-$2.84 per diluted share and increased its long-term earnings growth target to 7-9%.

The company announced a significant expansion of its 5-year capital investment plan (2025-2029) to $7.8 billion, representing a 26% increase over the previous plan. This includes additional Texas transmission projects from the ERCOT Permian Basin Reliability Study. The regulated rate base is projected to grow 12% compared to 2025 levels.

Performance across segments showed mixed results, with PNM benefiting from higher realized gains and increased customer usage, while TNMP saw improved rate recovery through various mechanisms. However, both segments faced challenges from milder summer temperatures and increased expenses related to new capital investments.

TXNM Energy (NYSE: TXNM) has scheduled its 2024 financial results announcement and 2025 earnings guidance release for February 21, 2025, before market opening. The company will host a conference call at 11 a.m. Eastern Time to discuss the results and company updates.

The energy holding company, which serves over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities TNMP and PNM, will make presentation materials available on their website. Investors can pre-register for the conference call or dial in directly, and a live webcast will be accessible through the company's investor relations webpage.

TXNM Energy (NYSE: TXNM) has announced that its management will be meeting with analysts and investors this week. During these meetings, the company plans to reaffirm its 2024 consolidated earnings guidance of $2.70 to $2.75 per diluted share.

The company, based in Albuquerque, New Mexico, operates as an energy holding company serving more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. Presentation materials for the meetings have been made available on the company's website.

PNM, a subsidiary of TXNM Energy (NYSE: TXNM), has issued an RFP for at least 900 megawatts of new energy resources to be operational between 2029 and 2032, with 500 megawatts required by 2030. This aligns with their 2023 Integrated Resource Plan, which identifies needs of 900-2,900 megawatts by 2032.

The company has expanded its capacity from 2,816 megawatts in 2020 to 4,268 megawatts in 2024, achieving 72% carbon-free portfolio. PNM received NMPRC approval for 410 megawatts of new solar and battery storage for 2026 and has requested approval for 430-450 megawatts more by 2028.

The RFP also aims to replace capacity from the Four Corners Power Plant, which PNM plans to exit in 2031, and current natural gas generation.

TNMP, a subsidiary of TXNM Energy (NYSE: TXNM), has filed an unopposed settlement with the Public Utility Commission of Texas (PUCT) for its System Resiliency Plan. The settlement includes $565.8 million in capital investments planned for 2025-2027, representing 94% of TNMP's proposed plan investments. Additionally, the agreement encompasses $128.2 million in operations and maintenance expenses for programs including vegetation management and wildfire mitigation. These costs can be deferred to the balance sheet and included in future Distribution Cost Recovery Factor filings. The plan was developed using a data-driven approach to address resiliency events that pose material risks to TNMP's distribution system operations.

TXNM Energy (NYSE: TXNM) has announced upcoming meetings with analysts and investors in New York City this week. During these meetings, management plans to reaffirm the company's 2024 consolidated earnings guidance of $2.70 to $2.75 per diluted share.

The energy holding company, based in Albuquerque, New Mexico, serves over 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM. Presentation materials for the meetings are available on the company's website.

TXNM Energy (NYSE: TXNM) announced a 5.2% increase in its annual dividend payment, raising it by $0.08 to $1.63 per share of common stock. The quarterly dividend of $0.4075 per share will be payable on February 14, 2025, to shareholders of record as of January 31, 2025.

Additionally, Public Service Company of New Mexico, a wholly owned subsidiary of TXNM Energy, declared its regular quarterly dividend of $1.145 per share on the 4.58% series of cumulative preferred stock, payable January 15, 2025, to shareholders of record as of December 31, 2024.

PNM, a subsidiary of TXNM Energy (NYSE: TXNM), and parties filed an unopposed stipulation for its 2025 Rate Request with the New Mexico Public Regulation Commission. The agreement includes a $105.0 million revenue increase based on a 9.45% return on equity and 51% equity capitalization on $3.0 billion rate base. The rate increase will be phased in with 50% effective July 1, 2025, and the remainder on April 1, 2026. The stipulation includes a $1.5 million contribution to the PNM Good Neighbor Fund for customer bill assistance. The original request was for $174.3 million with a 10.45% return on equity.

PNM, a subsidiary of TXNM Energy (NYSE: TXNM), has filed an application with the New Mexico Public Regulation Commission for new energy resources to be implemented by summer 2028. The proposal includes extending a 167 MW Valencia PPA through 2039, adding 300 MW of battery storage capacity, and installing a 130 MW solar and battery storage facility. The proposed portfolio represents a $220 million capital investment from PNM, potentially increasing to $252 million with an additional 20 MW storage option. The new resources aim to meet forecasted peak load requirements and advance New Mexico's zero-carbon goals under the Energy Transition Act.