TXNM Energy Executes Major Financing and Pension Risk Actions

TXNM Energy ( (TXNM) ) has issued an announcement.

On December 18–19, 2025, TXNM Energy and its subsidiaries undertook a series of financing and liability-management actions, including TNMP’s private placement of $70 million of 4.69% first mortgage bonds due 2031 secured by a first lien on substantially all of TNMP’s property, with proceeds earmarked for repaying short-term debt and funding general corporate purposes and capital spending. Over the same period, TXNM, PNM and TNMP amended and partially extended their revolving credit agreements, with TXNM and PNM removing SOFR adjustments and extending maturities to March 29, 2030, and TNMP both extending its revolver and upsizing its facility from $200 million to $300 million backed by newly issued Series 2025I first mortgage bonds, while ensuring that the planned merger with Blackstone’s Troy ParentCo will not trigger change-of-control defaults under these facilities or the new TNMP bond indentures. In a separate move to reduce pension risk, on December 18, 2025 TXNM directed the trustee of the PNM Resources Employees’ Retirement Plan to pay a single premium of about $91.9 million to Delaware Life Insurance Company in exchange for a group annuity contract that transfers a portion of PNM’s pension obligations related to its previously sold gas distribution business, a transaction expected to result in a non-cash charge of roughly $60 million to PNM’s net income while shifting future benefit payment responsibilities to the insurer.

The most recent analyst rating on (TXNM) stock is a Hold with a $60.00 price target. To see the full list of analyst forecasts on TXNM Energy stock, see the TXNM Stock Forecast page.

Spark’s Take on TXNM Stock

According to Spark, TipRanks’ AI Analyst, TXNM is a Neutral.

TXNM Energy’s overall stock score reflects solid financial performance with strong revenue growth and improved debt management. However, challenges such as declining net profit margins, negative free cash flow, and a high P/E ratio weigh on the score. The technical indicators suggest a positive trend, but the overbought condition indicates caution. The absence of recent earnings call insights or notable corporate events means these factors do not influence the score.

To see Spark’s full report on TXNM stock, click here.

More about TXNM Energy

TXNM Energy, Inc. is a utility holding company whose wholly owned subsidiaries include Texas-New Mexico Power Company (TNMP) and Public Service Company of New Mexico (PNM), which operate regulated electric utility businesses in Texas and New Mexico. The group relies on secured first mortgage bonds and revolving credit facilities to fund short-term needs and capital expenditures, and it also sponsors defined-benefit pension plans for current and former employees, including obligations tied to PNM’s previously divested gas distribution business.

Average Trading Volume: 819,487

Technical Sentiment Signal: Buy

Current Market Cap: $6.39B

See more insights into TXNM stock on TipRanks’ Stock Analysis page.