Gabelli & Company Maintains PNM Resources Hold (PNM)

Gabelli & Company maintained its PNM Resources PNM Hold rating in a research report published today. In the report, Gabelli states, "The PNM turnaround story continues with an important pending NM rate stipulation awaiting PRNMC approval. The first phase $45 mm, or 6%, annual increase would be effective 5/15/11." Shares of PNM Resources closed Tuesday at $14.55, reflecting no change from Monday's market close.