PNM Resources, Inc.’s PNM planned infrastructure-related investments and efforts to provide reliable and affordable clean power will boost its performance. Also, the company’s adequate liquidity will allow it to meet its debt obligations.We issued an updated research report on this presently Zacks Rank #3 (Hold) company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The company has a trailing four-quarter earnings surprise of 9.27%, on average. Its long-term (three-five years) earnings growth rate is pegged at 4.87%.What’s Driving the Stock?PNM Resources continues to invest substantially in its utility assets for providing reliable services to its customers. The company plans to invest $3.96 billion during the 2021-2025 forecast period. It also expects a 5-6% earnings growth rate in the same time frame.In New Mexico, the utility received approvals from both the Federal Energy Regulatory Commission and the New Mexico Public Regulation Commission to acquire the Western Spirit Transmission Line in 2021. We note that the company will play an important role with its expanding transmission assets in the region.Also, the utility is steadily undertaking measures to increase its renewable and battery storage capacity, thus moving toward clean energy. To this end, the company aims to have a clean energy portfolio worth of 2,015 megawatt (MW) by 2022, up from 609 MW in 2019. Also, PNM Resources is focused on exiting coal-fired generation by 2024 and intends to have an emissions-free generating portfolio by 2040 and become carbon neutral before 2045.Additionally, other utilities like Duke Energy DUK, DTE Energy DTE and Xcel Energy XEL are making efforts to supply clean energy.It boasts sufficient liquidity to meet its near-term obligations and fund capital investments despite the ongoing economic crisis.WoesHowever, the risk behind operating in nuclear plants apart from abiding by the climate change-related stringent environmental policies and regulations remain headwinds to the company.Price PerformanceIn the past six months, shares of the company have gained 17.8%, outperforming the industry’s rise of 4%.5 Stocks Set to DoubleEach was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Xcel Energy Inc. (XEL): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report Duke Energy Corporation (DUK): Free Stock Analysis Report PNM Resources, Inc. (PNM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research