Shares of El Paso Electric (NYSE:EE) have been assigned an average rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $58.00.
A number of brokerages have commented on EE. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Tuesday, September 19th. Jefferies Group downgraded shares of El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday, October 16th. Bank of America downgraded shares of El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 target price on the stock. in a research note on Wednesday, November 22nd. Finally, Mizuho restated a “hold” rating and issued a $54.00 target price on shares of El Paso Electric in a research note on Wednesday, January 10th.
Shares of El Paso Electric (NYSE EE) traded up $0.90 during trading hours on Friday, reaching $51.90. 264,918 shares of the company traded hands, compared to its average volume of 296,373. The company has a market cap of $2,072.21, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48. El Paso Electric has a one year low of $44.70 and a one year high of $61.15. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.63 and a quick ratio of 0.47.
El Paso Electric (NYSE:EE) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.23). The firm had revenue of $297.47 million for the quarter, compared to the consensus estimate of $310.00 million. El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. analysts predict that El Paso Electric will post 2.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $0.335 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.34 dividend on an annualized basis and a yield of 2.58%. El Paso Electric’s dividend payout ratio is currently 55.83%.
A number of hedge funds have recently modified their holdings of EE. Schwab Charles Investment Management Inc. grew its stake in El Paso Electric by 3.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 270,166 shares of the utilities provider’s stock worth $13,968,000 after acquiring an additional 9,075 shares in the last quarter. Neuberger Berman Group LLC bought a new position in El Paso Electric in the 2nd quarter worth about $221,000. Principal Financial Group Inc. grew its stake in El Paso Electric by 9.4% in the 2nd quarter. Principal Financial Group Inc. now owns 346,809 shares of the utilities provider’s stock worth $17,930,000 after acquiring an additional 29,758 shares in the last quarter. Swiss National Bank grew its stake in El Paso Electric by 2.2% in the 2nd quarter. Swiss National Bank now owns 68,200 shares of the utilities provider’s stock worth $3,526,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in El Paso Electric by 32.4% in the 2nd quarter. Wells Fargo & Company MN now owns 121,638 shares of the utilities provider’s stock worth $6,289,000 after acquiring an additional 29,744 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.
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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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