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NEW YORK ( TheStreet) -- PNM Resources (NYSE: PNM) hit a new 52-week high Wednesday as it is currently trading at $19.23, above its previous 52-week high of $19.17 with 165,772 shares traded as of 11:25 a.m. ET. Average volume has been 441,300 shares over the past 30 days. PNM has a market cap of $1.5 billion and is part of the utilities sector and utilities industry. Shares are up 4.1% year to date as of the close of trading on Tuesday. 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 has a P/E ratio of 9.5, equal to the average utilities industry P/E ratio and below the S&P 500 P/E ratio of 17.7.