TXNM Energy Surges to 154th in Market Rankings with $510 Million Turnover Amid Blackstone Acquisition

On May 19, TXNM Energy (TXNM) saw a significant surge in trading volume, with a turnover of $510 million, marking a 342.12% increase from the previous day. This substantial rise in trading activity placed TXNM at the 154th position in the day's stock market rankings. The stock price of TXNM Energy rose by 6.98%.

Blackstone Inc.'s infrastructure unit announced the acquisition of TXNM Energy Inc. for $11.5 billion, including net debt and preferred stock. The deal is expected to close in the second half of 2026. This acquisition is part of Blackstone's strategy to invest in infrastructure, particularly in the energy sector. TXNM Energy supplies power to 800,000 customers and will utilize Blackstone's $60 billion infrastructure fund to support grid modernization and renewable energy projects. The acquisition will keep local management in place in New Mexico and Texas, ensuring continuity in operations.

The acquisition agreement includes a cash offer of $61.25 per share, which reflects a significant premium over the previous market price. This deal underscores Blackstone's confidence in the infrastructure sector and its commitment to investing in energy modernization. The acquisition is expected to have a positive impact on TXNM Energy's stock price, as it provides a clear path for growth and development through Blackstone's extensive resources and expertise.