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News Breaks
December 31, 2012
19:09 EDTPNMPNM Resources files for transmission formula rate increase
PNM Resources' New Mexico utility, PNM, filed a request with the Federal Energy Regulatory Commission, or FERC, for a $3.2M transmission rate increase and permission to adjust transmission rates annually based on an approved formula. The request will not impact retail rates for New Mexico customers, only wholesale customers who use PNM transmission lines to deliver power. PNM has asked for FERC approval by March 2013. The filing proposes a return on equity of 10.81%, based on a rate base of $317.5M and a revenue requirement of $82.1M. Once approved, an annual adjustment will be made each June to update for the prior year's costs reflected in the latest FERC Form 1 filing.
News For PNM From The Last 14 Days
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October 31, 2014
07:40 EDTPNMPNM Resources reports Q3 ongoing EPS 68c, consensus 66c
Reports Q3 electric operating revenue $413.95M.
07:38 EDTPNMPNM Resources affirms FY14 consolidated ongoing EPS view $1.44-$1.51
Consensus is $1.47.
October 20, 2014
07:26 EDTPNMPNM Resources upgraded to Buy from Hold at Argus
Argus upgraded PNM Resources to Buy with a $32 price target. The upgrade is based on improving earnings visibility, an expanding infrastructure improvement program, and focus on costs.

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