El Paso Electric (EE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of El Paso Electric (NYSE:EE) have been given an average recommendation of “Hold” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $58.00.

A number of equities analysts have recently commented on the company. Mizuho reiterated a “hold” rating and issued a $54.00 price objective on shares of El Paso Electric in a research note on Wednesday. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, September 19th. Jefferies Group lowered El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday, October 16th. Finally, Bank of America lowered El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a research note on Wednesday, November 22nd.

Several institutional investors have recently bought and sold shares of EE. Amalgamated Bank grew its position in El Paso Electric by 1.0% during the second quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock worth $286,000 after buying an additional 55 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in El Paso Electric by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock worth $478,000 after buying an additional 90 shares in the last quarter. Stifel Financial Corp grew its position in El Paso Electric by 6.8% during the second quarter. Stifel Financial Corp now owns 7,494 shares of the utilities provider’s stock worth $385,000 after buying an additional 476 shares in the last quarter. Goldman Sachs Group Inc. grew its position in El Paso Electric by 0.9% during the second quarter. Goldman Sachs Group Inc. now owns 89,786 shares of the utilities provider’s stock worth $4,642,000 after buying an additional 812 shares in the last quarter. Finally, First Midwest Bank Trust Division grew its position in El Paso Electric by 5.2% during the third quarter. First Midwest Bank Trust Division now owns 17,515 shares of the utilities provider’s stock worth $968,000 after buying an additional 868 shares in the last quarter. Institutional investors and hedge funds own 98.66% of the company’s stock.

El Paso Electric (EE) opened at $51.05 on Friday. El Paso Electric has a 1-year low of $44.70 and a 1-year high of $61.15. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $2,088.45, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.74 and a beta of 0.48.

El Paso Electric (NYSE:EE) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23). El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. The company had revenue of $297.47 million for the quarter, compared to the consensus estimate of $310.00 million. During the same quarter last year, the business earned $1.84 earnings per share. El Paso Electric’s quarterly revenue was down 8.0% on a year-over-year basis. equities research analysts anticipate that El Paso Electric will post 2.51 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders 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 dividend yield of 2.62%. El Paso Electric’s payout ratio is presently 55.83%.

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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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