NEW YORK ( TheStreet) -- PNM Resources Incorporated (NYSE: PNM) is trading at unusually high volume Tuesday with 2.1 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up $1.18 (+8.9%) at $14.49 as of 2:02 p.m. ET.

PNM has a market cap of $1.2 billion and is part of the utilities sector and utilities industry. Shares are up 2.2% year to date as of the close of trading on Monday.

PNM Resources, Inc., together with its subsidiaries, operates in energy and energy-related businesses in the United States. It primarily engages in the generation, transmission, and distribution of electricity. The company generates electricity using coal, nuclear, natural gas, and wind energy. The company has a P/E ratio of 26.2, above the S&P 500 P/E ratio of 21.8.

TheStreet Ratings rates PNM as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full PNM Ratings Report.

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