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.
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