Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
ORTIZ PATRICK T
   2. Issuer Name and Ticker or Trading Symbol
PNM RESOURCES INC [PNM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SR VP, GEN COUNSEL
(Last)
(First)
(Middle)
ALVARADO SQUARE, MS 2822		 3. Date of Earliest Transaction (Month/Day/Year)
08/02/2005
(Street)

ALBUQUERQUE, NM 87158		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK 07/29/2005   M   16,280 A $ 13.0833 37,499 D  
COMMON STOCK 07/29/2005   M   24,000 A $ 11.6667 61,499 D  
COMMON STOCK 07/29/2005   M   20,000 A $ 10.5417 81,499 D  
COMMON STOCK 07/29/2005   M   9,501 A $ 17.1667 91,000 D  
COMMON STOCK 07/29/2005   S   16,280 D $ 29.3 74,720 D  
COMMON STOCK 07/29/2005   S   24,000 D $ 29.3 50,720 D  
COMMON STOCK 07/29/2005   S   20,000 D $ 29.3 30,720 D  
COMMON STOCK 07/29/2005   S   9,501 D $ 29.3 21,219 D  
COMMON STOCK 07/29/2005   M   8,800 A $ 29.3 30,019 D  
COMMON STOCK 07/29/2005   M   1,200 A $ 29.3475 31,219 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
STOCK OPTIONS $ 13.0833 07/29/2005   M     16,280 12/31/1997(1) 12/31/2006 COMMON STOCK 16,280 $ 29.3 115,151 D  
STOCK OPTIONS $ 11.6667 07/29/2005   M     24,000 02/08/2000(2) 02/08/2009 COMMON STOCK 24,000 $ 29.3 91,151 D  
STOCK OPTIONS $ 10.5417 07/29/2005   M     20,000 02/07/2001(3) 02/07/2010 COMMON STOCK 20,000 $ 29.3 71,151 D  
STOCK OPTIONS $ 17.1667 07/29/2005   M     9,501 02/08/2003(4) 02/08/2012 COMMON STOCK 9,501 $ 29.3 61,650 D  
STOCK OPTIONS $ 10.5417 07/29/2005   M     8,800 02/07/2001(3) 02/07/2010 COMMON STOCK 8,800 $ 29.3 52,850 D  
STOCK OPTIONS $ 10.5417 07/29/2005   M     1,200 02/07/2001(3) 02/07/2010 COMMON STOCK 1,200 $ 24.3475 51,650 (5) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ORTIZ PATRICK T
ALVARADO SQUARE
MS 2822
ALBUQUERQUE, NM 87158		       SR VP, GEN COUNSEL  

Signatures

 PATRICK T. ORTIZ   08/02/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 12/31/1997.
(2) THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 02/08/2000.
(3) THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 02/07/2001.
(4) THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 02/08/2003.
(5) ON 06/11/04, THE COMMON STOCK OF PNM RESOURCES, INC. SPLIT 3 FOR 2, RESULTING IN THE REPORTING PERSON'S ACQUISITION OF 39,144 ADDITIONAL STOCK OPTIONS, AND IS INCLUDED IN THE TOTAL.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.