PNM

PNM ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of PNM and Encourages Investors to Contact the Firm

Retrieved on: 
Wednesday, October 21, 2020
Stock market, Security, Avangrid, Derivative, PNM

On October 21, 2020, PNM announced that it had signed an agreement to be acquired by Avangrid for approximately $8.3 billion.

Key Points: 
  • On October 21, 2020, PNM announced that it had signed an agreement to be acquired by Avangrid for approximately $8.3 billion.
  • Pursuant to the merger agreement, PNM stockholders will receive $50.30 in cash for each share of PNM common stock owned.
  • Bragar Eagel & Squire is concerned that PNMs board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.
  • The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country.

PNM Resources Merger Investigation: Halper Sadeh LLP Announces Investigation Into Whether the Sale of PNM Resources, Inc. Is Fair to Shareholders; Investors Are Encouraged to Contact the Firm – PNM

Retrieved on: 
Wednesday, October 21, 2020
Legal, Professional services, PNM Resources, PNM, Tobago Council of the People's National Movement, Fiduciary, Political parties

Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of PNM Resources, Inc. (NYSE: PNM) to Avangrid, Inc. for $50.30 in cash per share is fair to PNM Resources shareholders.

Key Points: 
  • Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of PNM Resources, Inc. (NYSE: PNM) to Avangrid, Inc. for $50.30 in cash per share is fair to PNM Resources shareholders.
  • On behalf of PNM Resources shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
  • If you are a PNM Resources shareholder and would like to discuss your legal rights and options, please visit PNM Resources Merger or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or [email protected] or [email protected] .
  • The PNM Resources merger investigation concerns whether PNM Resources and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible price for PNM Resources shareholders; (2) determine whether Avangrid is underpaying for PNM Resources; and (3) disclose all material information necessary for PNM Resources shareholders to adequately assess and value the merger consideration.

AVANGRID and PNM Resources Announce Merger Plans

Retrieved on: 
Wednesday, October 21, 2020
Energy, Utilities, Oil, Gas, PNM Resources, Avangrid, PNM, New York Stock Exchange, Energy in the United States, Economy of the United States, Companies, AVANGRID:, PNM Resources

AVANGRID (NYSE: AGR), a leading sustainable energy company, and PNM Resources (NYSE: PNM) announced today that their respective boards have approved the merger of PNM Resources into AVANGRID.

Key Points: 
  • AVANGRID (NYSE: AGR), a leading sustainable energy company, and PNM Resources (NYSE: PNM) announced today that their respective boards have approved the merger of PNM Resources into AVANGRID.
  • AVANGRID will add two independent board members from PNM Resources to its board of directors and one independent board member from PNM Resources will join the AVANGRID Networks board.
  • The agreement between AVANGRID and PNM Resources is subject to approval by PNM Resources shareholders.
  • About PNM Resources: PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, NM, with 2019 consolidated operating revenues of $1.5 billion.

AVANGRID and PNM Resources to Combine in Strategic Merger Transaction

Retrieved on: 
Wednesday, October 21, 2020
PNM Resources, Avangrid, PNM, Volume-weighted average price, Energy in the United States, Economy of the United States, Companies

The proposed transaction implies a 19.3% premium to PNM Resources 30-day volume weighted average price (VWAP) as of 10/20/20.

Key Points: 
  • The proposed transaction implies a 19.3% premium to PNM Resources 30-day volume weighted average price (VWAP) as of 10/20/20.
  • In addition, both AVANGRID and PNM Resources are leaders in environmental, social and governance issues that impact our stakeholders."
  • Speaking on the call will be Pat Vincent-Collawn, PNM Resources chairman, president and CEO, Chuck Eldred, PNM Resources executive vice president of corporate development and finance, and Don Tarry, PNM Resources senior vice president and CFO.
  • With headquarters in Orange, Connecticut, Avangrid has two primary lines of business: Avangrid Networks and Avangrid Renewables.

Videotron Selects Akleza's CableDiag Proactive Network Maintenance Platform

Retrieved on: 
Monday, October 19, 2020
Quebecor, Vidéotron, PNM, Electrical fault

to deploy its CableDiag solution designed to identify, prioritize, and diagnose potential service impairments in its cable network.

Key Points: 
  • to deploy its CableDiag solution designed to identify, prioritize, and diagnose potential service impairments in its cable network.
  • Videotron has licensed three software modules: CableDiagEQ, CableDiagRF, and CableDiag31, delivering a comprehensive Proactive Network Maintenance (PNM) solution.
  • The Akleza CableDiag PNM solution will help Videotron identify and address HFC network and customer service issues while detecting potential problems proactively.
  • "We are very pleased to be working with Videotron to help Videotron network technicians identify, isolate and resolve faults in their networks thereby reducing their operational expenses," said James Medlock, CEO of Akleza.

PNM Joins in Groundbreaking for 50 MW Solar Customer Program

Retrieved on: 
Thursday, October 15, 2020
Energy policy, Energy, Renewable energy, PNM Resources, PNM, Renewable portfolio standards in the United States, Electric power, Net metering in New Mexico

ALBUQUERQUE, N.M., Oct. 15, 2020 /PRNewswire/ --Public Service Company of New Mexico (PNM), the wholly-owned New Mexico utility subsidiary of PNM Resources, Inc. (NYSE: PNM), today joins the partners of the PNM Solar Directprogram to celebrate the groundbreaking of the 50-megawatt solar facility supplying emissions-free energy to customers.

Key Points: 
  • ALBUQUERQUE, N.M., Oct. 15, 2020 /PRNewswire/ --Public Service Company of New Mexico (PNM), the wholly-owned New Mexico utility subsidiary of PNM Resources, Inc. (NYSE: PNM), today joins the partners of the PNM Solar Directprogram to celebrate the groundbreaking of the 50-megawatt solar facility supplying emissions-free energy to customers.
  • The virtual groundbreaking provides a glimpse into the first utility-scale solar facility on Jicarilla Apache Nation land and the third largest solar facility on tribal lands in the United States.
  • Under the program, these customers can take advantage of utility-scale solar pricing while avoiding the up-front investment needed to construct and maintain individual customer-sited facilities.
  • The additional solar capacity will also help PNM meet the state renewable portfolio standards of 40% by 2025, 50% by 2030 and 80% by 2040.

PNM Resources Introduces COVID Customer Relief Programs, Raises 2020 Ongoing Earnings Guidance

Retrieved on: 
Thursday, October 1, 2020
PNM Resources, PNM, Tobago, Tobago Council of the People's National Movement, Political parties

ALBUQUERQUE, N.M., Oct. 1, 2020 /PRNewswire/ --Public Service Company of New Mexico (PNM), the wholly-owned regulated New Mexico subsidiary of PNM Resources (NYSE: PNM) is announcing additional efforts to support customers this year with the introduction of its COVID Customer Relief Programs.

Key Points: 
  • ALBUQUERQUE, N.M., Oct. 1, 2020 /PRNewswire/ --Public Service Company of New Mexico (PNM), the wholly-owned regulated New Mexico subsidiary of PNM Resources (NYSE: PNM) is announcing additional efforts to support customers this year with the introduction of its COVID Customer Relief Programs.
  • "People are the core of our business and our communities," said Pat Vincent-Collawn, PNM Resources' chairman, president and CEO.
  • PNM Resources is raising its 2020 ongoing earnings guidance to $2.23 - $2.31, targeting a midpoint of $2.27, compared to its previous range of $2.16 - $2.26.
  • PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2019 consolidated operating revenues of $1.5 billion.

PNM Resources Adds to Industry-Leading ESG Goal for 100% Emissions-Free Energy with Electric Vehicle Fleet Goals

Retrieved on: 
Monday, September 28, 2020
PNM Resources, PNM, Electric vehicle

ALBUQUERQUE, N.M., Sept. 28, 2020 /PRNewswire/ --PNM Resources (NYSE: PNM) is building upon its industry-leading ESG goal for 100% emissions-free energy by 2040 with plans for additional emissions reductions through the electrification of its vehicle fleet.

Key Points: 
  • ALBUQUERQUE, N.M., Sept. 28, 2020 /PRNewswire/ --PNM Resources (NYSE: PNM) is building upon its industry-leading ESG goal for 100% emissions-free energy by 2040 with plans for additional emissions reductions through the electrification of its vehicle fleet.
  • The new goals call for 25% of all light duty fleet purchases to be electric by 2025 and 50% to be electric by 2030.
  • Additionally, PNM encourages customers to learn more about electric vehicles and offers educational resources and promotions to help customers save money when purchasing an electric vehicle.
  • PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2019 consolidated operating revenues of $1.5 billion.

PNM Partners with Sandia National Laboratories to Further Clean Energy Goals and Grid Resilience

Retrieved on: 
Monday, September 21, 2020
Electric power, Energy, Articles, PNM Resources, Electric power distribution, Microgrid, PNM, Smart grid, Distributed generation, Electrical grid, Grid computing, Sandia National Laboratories

ALBUQUERQUE, N.M., Sept. 21, 2020 /PRNewswire/ --PNM, the wholly-owned New Mexico utility subsidiary of PNM Resources, Inc. (NYSE: PNM), announced an agreement to partner with Sandia National Laboratories in research and development projects focused on energy resiliency, clean energy and national security.

Key Points: 
  • ALBUQUERQUE, N.M., Sept. 21, 2020 /PRNewswire/ --PNM, the wholly-owned New Mexico utility subsidiary of PNM Resources, Inc. (NYSE: PNM), announced an agreement to partner with Sandia National Laboratories in research and development projects focused on energy resiliency, clean energy and national security.
  • The partnership demonstrates PNM Resources' commitment to an environmental, social and governance (ESG) strategy with projects supporting the company's emissions-free energy goals and plans for a reliable, resilient and secure grid to deliver New Mexico's clean energy future.
  • Advances may include networked microgrids, virtual power plants, highly efficient distributed and centralized storage systems, and reconfigurable grid architectures that provide added resilience.
  • PNM and Sandia National Laboratories previously collaborated in the nation's first combined solar-plus-storage facility to be fully integrated into a utility power grid in 2011, using smart grid technology to advance renewable energy.

PNM Resources Management to Meet with Investors

Retrieved on: 
Wednesday, September 9, 2020
Communication, Forward-looking statement, PNM

PNMR, PNM, and TNMP assume no obligation to update this information.

Key Points: 
  • PNMR, PNM, and TNMP assume no obligation to update this information.
  • Because actual results may differ materially from those expressed or implied by these forward-looking statements, PNMR, PNM, and TNMP caution readers not to place undue reliance on these statements.
  • While the Company believes these financial measures are appropriate and useful for investors, they are not measures presented in accordance with GAAP.
  • The Company uses ongoing earnings guidance to provide investors with management's expectations of ongoing financial performance over the period presented.