TXNM Energy, Inc. Common Stock (TXNM)

The stock has already soared, the numbers keep accelerating, and one concentrated fund just made it a core holding anyway.

The stock is roughly flat this past year, but the fundamentals quietly moved in the right direction, and that disconnect likely caught this fund’s attention.

When nearly a third of a portfolio concentrates into one bruised stock, it usually signals a view that most investors are still too early to share.

With shares near record highs and a buyout clock quietly ticking, this position says more about risk control and deal math than chasing momentum.

With a cash buyout price anchoring the stock and orders still hitting records, this move looks less like a macro call and more like a wager on deal certainty and downside protection.

TXNM Energy, Inc. (NYSE: TXNM) will be acquired by Blackstone Infrastructure for $61.25 per share in cash, representing a 23.0% premium. Total enterprise value is $11.5 billion, with no new debt expected. Transaction to close in second half of 2026.

Following the transaction, TXNM Energy, PNM, and TNMP will remain locally managed and operated with headquarters in New Mexico and Texas.

The technical analysis for TXNM ENERGY INC (NYSE:TXNM) is highly positive, with a rating of 7 out of 10, suggesting a potential breakout.