SELL PNM @ $45.69

Selling PNM @ $45.69

Realized gain of $1.76 (4.01%)

After crushing the merger with AGR (and creating a buying opportunity for me), the New Mexico Public Service Commission denied a request to abandon & securitize the remaining balance at the Four Corners Coal Plant. This idea of retiring early, securitizing, and using the proceeds to build renewables is the key thesis behind this stock - outside of the potential for a new suitor or higher bid. 

Thus, I'll take 1/2 of the target profit and move on. Regulators change slowly and this renewables thesis is important to the stock's future.