Equities Analysts Set Expectations for El Paso Electric Company’s Q3 2017 Earnings (NYSE:EE)

El Paso Electric Company (NYSE:EE) – Investment analysts at Williams Capital dropped their Q3 2017 earnings per share (EPS) estimates for El Paso Electric in a research report issued to clients and investors on Thursday. Williams Capital analyst C. Ellinghaus now anticipates that the utilities provider will post earnings per share of $1.52 for the quarter, down from their prior estimate of $1.59. Williams Capital also issued estimates for El Paso Electric’s Q3 2018 earnings at $1.66 EPS.

El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.75 by $0.14. The business had revenue of $251.84 million during the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same period in the previous year, the firm posted $0.55 EPS.

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EE has been the subject of a number of other research reports. BidaskClub downgraded shares of El Paso Electric from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Jefferies Group LLC restated a “hold” rating and set a $56.00 price objective (up previously from $55.00) on shares of El Paso Electric in a report on Friday. Finally, Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $52.67.

Shares of El Paso Electric (NYSE EE) opened at 53.45 on Friday. The company has a market cap of $2.17 billion, a P/E ratio of 19.31 and a beta of 0.48. The company’s 50 day moving average is $52.07 and its 200 day moving average is $50.65. El Paso Electric has a one year low of $42.49 and a one year high of $55.45.

In other El Paso Electric news, Director Charles Yamarone sold 3,500 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total transaction of $183,645.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $524,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.33% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of El Paso Electric by 17.3% in the first quarter. First Trust Advisors LP now owns 376,042 shares of the utilities provider’s stock worth $18,990,000 after buying an additional 55,370 shares in the last quarter. Tyers Asset Management LLC raised its position in shares of El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock worth $133,000 after buying an additional 28 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of El Paso Electric by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 56,350 shares of the utilities provider’s stock worth $2,842,000 after buying an additional 3,456 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of El Paso Electric by 5.4% in the first quarter. Wells Fargo & Company MN now owns 91,894 shares of the utilities provider’s stock worth $4,641,000 after buying an additional 4,714 shares in the last quarter. Finally, KAMES CAPITAL plc acquired a new position in shares of El Paso Electric during the first quarter worth $798,000. Hedge funds and other institutional investors own 96.93% of the company’s stock.

El Paso Electric Company Profile

El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).

Earnings History and Estimates for El Paso Electric (NYSE:EE)

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