TXNM Energy, Inc. (TXNM)

TXNM Energy, Inc., formerly PNM Resources, is an energy holding company headquartered in Albuquerque, New Mexico. It owns regulated electric utilities that provide electricity to homes and businesses in New Mexico and Texas.

Its largest subsidiary, PNM, is a vertically integrated electric utility serving customers in Albuquerque, Santa Fe and many other New Mexico communities, owning and operating generation, transmission and distribution facilities. PNM has been shifting its power supply toward renewable energy and battery storage as the state moves toward carbon-free electricity. The other main subsidiary, Texas-New Mexico Power, owns transmission and distribution lines that deliver electricity to customers in parts of Texas, operating in the state's competitive retail market.

The company adopted the TXNM Energy name in 2024 to reflect its operations in both states.