ValuEngine upgraded shares of El Paso Electric Company (NYSE:EE) from a hold rating to a buy rating in a research note published on Friday morning.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut El Paso Electric from a hold rating to a strong sell rating in a research report on Friday, July 21st. Jefferies Group LLC reaffirmed a hold rating and set a $57.00 price objective (up from $56.00) on shares of El Paso Electric in a research report on Friday, October 6th. Mizuho reaffirmed a hold rating and set a $56.00 price objective on shares of El Paso Electric in a research report on Wednesday, October 4th. Bank of America Corporation started coverage on El Paso Electric in a research report on Tuesday, October 24th. They set a buy rating and a $62.00 price objective for the company. Finally, BidaskClub raised El Paso Electric from a hold rating to a buy rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. El Paso Electric currently has an average rating of Hold and a consensus price target of $56.60.
El Paso Electric (EE) opened at $58.00 on Friday. The stock has a market capitalization of $2,344.18, a PE ratio of 24.06, a PEG ratio of 4.22 and a beta of 0.47. El Paso Electric has a 1 year low of $43.90 and a 1 year high of $58.70. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 1.05.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23). The business had revenue of $297.47 million for the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a return on equity of 8.44% and a net margin of 10.13%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 earnings per share. equities research analysts predict that El Paso Electric will post 2.55 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, December 14th. El Paso Electric’s payout ratio is currently 55.83%.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of El Paso Electric by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock valued at $196,130,000 after purchasing an additional 170,235 shares during the last quarter. FMR LLC lifted its holdings in shares of El Paso Electric by 0.7% in the 2nd quarter. FMR LLC now owns 1,995,235 shares of the utilities provider’s stock valued at $103,154,000 after purchasing an additional 13,300 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of El Paso Electric by 1.2% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,931,148 shares of the utilities provider’s stock valued at $106,696,000 after purchasing an additional 22,836 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of El Paso Electric by 6.4% in the 2nd quarter. Northern Trust Corp now owns 1,308,227 shares of the utilities provider’s stock valued at $67,635,000 after purchasing an additional 78,973 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of El Paso Electric by 7.4% in the 3rd quarter. Macquarie Group Ltd. now owns 1,147,801 shares of the utilities provider’s stock valued at $63,416,000 after purchasing an additional 79,556 shares during the last quarter. 97.90% of the stock is owned by institutional investors and hedge funds.
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).
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