TXNM Energy stock enters a merger-linked note conversion window

Published on 10/05/2026 at 19:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TXNM Energy stock trades at USD 58.52 on October 5, 2026, while its notes can convert through December 31. Q2 EPS beat estimates, but revenue missed consensus.

TXNM, US69349H1077, Illustration mit AI erstellt.

TXNM Energy stock (ISIN US69349H1077) was trading at USD 58.52 on the NYSE at 1:36 p.m. ET on October 5, 2026, up 0.18 percent on the session. A September 30 filing opened a conversion period for the company's 5.75 percent junior subordinated convertible notes that runs from October 1 through December 31, 2026, according to StockTitan.

Conversion terms meet merger value

The notes convert at 22.5654 common shares per USD 1,000 principal amount. The filing links the securities to TXNM Energy's proposed merger with affiliates of Blackstone Infrastructure, under which eligible common shares would receive USD 61.25 in cash if the transaction closes, according to StockTitan.

The filing also says holders converting during the current period receive new 5.75 percent non-convertible junior subordinated notes for the principal amount, with shares covering any excess conversion obligation. That structure makes the merger approval process relevant to noteholders as well as common shareholders.

Second-quarter figures split the signal

TXNM Energy's second-quarter 2026 adjusted EPS was USD 0.58, beating the USD 0.56 consensus by USD 0.02. Revenue came in at USD 548.55 million against a USD 567.00 million estimate, a USD 18.45 million shortfall, according to MarketBeat. The contrast points to earnings strength alongside softer top-line delivery in the latest reported quarter.

MarketBeat lists a Hold consensus from three research analysts and an average price target of USD 61.25. Relative to the October 5 price of USD 58.52, that target lies 4.67 percent above the stock, according to MarketBeat.

Stock stays near its yearly high

TXNM Energy's October 5 price stood 1.70 percent below its 52-week high of USD 59.53 and 5.17 percent above its 52-week low of USD 55.64. The company had a market capitalization of USD 6.5 billion and volume of 352,174 shares at the same timestamp.

The combination of a merger-linked USD 61.25 cash value, a current price below that level and a note conversion window gives the stock a defined event framework. The next scheduled dividend is USD 0.4225 per share, payable November 13, 2026, to shareholders of record October 23, 2026, according to MarketBeat.

NYSE price and company profile

TXNM Energy was last trading at USD 58.52 on the NYSE on October 5, 2026 at 1:36 p.m. ET. The regulated electric utility operates through Public Service Company of New Mexico and Texas-New Mexico Power Company, serving residential, commercial and industrial customers in New Mexico and Texas.