PNM Stock Hits New 52-Week High (PNM)

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.

TheStreet Ratings rates PNM as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, reasonable valuation levels, notable return on equity and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full PNM Ratings Report.

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Today PNM Resources (PNM) Hits New Lifetime High