ValuEngine downgraded shares of El Paso Electric Company (NYSE:EE) from a buy rating to a hold rating in a research report sent to investors on Monday.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of El Paso Electric from a hold rating to a strong sell rating in a research report on Friday, July 21st. BidaskClub raised shares of El Paso Electric from a hold rating to a buy rating in a research report on Friday, August 18th. Mizuho assumed coverage on shares of El Paso Electric in a research report on Thursday, August 17th. They issued a neutral rating and a $55.00 price target for the company. Finally, Jefferies Group LLC reissued a hold rating and issued a $56.00 price target (up from $55.00) on shares of El Paso Electric in a research report on Friday, August 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. El Paso Electric presently has a consensus rating of Hold and a consensus price target of $55.25.

El Paso Electric (NYSE:EE) traded up 0.09% during trading on Monday, hitting $56.80. The company had a trading volume of 106,573 shares. El Paso Electric has a 52-week low of $42.49 and a 52-week high of $57.00. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 20.52 and a beta of 0.47. The firm’s 50 day moving average is $55.23 and its 200-day moving average is $52.80.

El Paso Electric (NYSE:EE) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The firm had revenue of $251.84 million during the quarter. During the same period last year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that El Paso Electric will post $2.58 earnings per share for the current year.

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Several large investors have recently made changes to their positions in EE. BlackRock Inc. raised its holdings in shares of El Paso Electric by 34,872.4% in the first quarter. BlackRock Inc. now owns 5,344,481 shares of the utilities provider’s stock valued at $269,896,000 after buying an additional 5,329,199 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of El Paso Electric by 160.3% in the second quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock valued at $18,059,000 after buying an additional 215,109 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of El Paso Electric by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock valued at $196,130,000 after buying an additional 170,235 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of El Paso Electric by 75.6% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 389,610 shares of the utilities provider’s stock valued at $20,143,000 after buying an additional 167,682 shares during the last quarter. Finally, AHL Partners LLP raised its holdings in shares of El Paso Electric by 1,142.2% in the second quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock valued at $8,861,000 after buying an additional 157,594 shares during the last quarter. 97.96% 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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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