El Paso Electric Company (EE) Upgraded at ValuEngine
ValuEngine upgraded shares of El Paso Electric Company (NYSE:EE) from a hold rating to a buy rating in a research report report published on Friday morning.
A number of other analysts also recently commented on the company. Zacks Investment Research downgraded El Paso Electric from a hold rating to a strong sell rating in a research note on Friday, July 21st. Jefferies Group LLC restated a hold rating and issued a $57.00 target price (up previously from $56.00) on shares of El Paso Electric in a research note on Friday, October 6th. Mizuho reaffirmed a hold rating and issued a $56.00 price target on shares of El Paso Electric in a report on Wednesday, October 4th. Bank of America Corporation began coverage on El Paso Electric in a report on Tuesday, October 24th. They issued a buy rating and a $62.00 price target for the company. Finally, BidaskClub raised El Paso Electric from a hold rating to a buy rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $56.60.
Shares of El Paso Electric (NYSE:EE) traded down $0.25 on Friday, hitting $57.75. The stock had a trading volume of 200,100 shares, compared to its average volume of 190,861. El Paso Electric has a 1 year low of $43.90 and a 1 year high of $58.70. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $2,344.18, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 4.22 and a beta of 0.47.
El Paso Electric (NYSE:EE) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.23). El Paso Electric had a return on equity of 8.44% and a net margin of 10.13%. The company had revenue of $297.47 million during the quarter, compared to analysts’ expectations of $310.00 million. During the same quarter in the previous year, the company earned $1.84 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. equities research analysts expect that El Paso Electric will post 2.55 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.335 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.34 dividend on an annualized basis and a yield of 2.32%. El Paso Electric’s payout ratio is 55.83%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its holdings in El Paso Electric by 1.0% in the 2nd quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 55 shares during the period. Public Employees Retirement System of Ohio raised its holdings in El Paso Electric by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 90 shares during the period. Arizona State Retirement System raised its holdings in shares of El Paso Electric by 0.5% during the second quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock valued at $1,096,000 after acquiring an additional 100 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of El Paso Electric by 0.8% during the second quarter. Texas Permanent School Fund now owns 29,612 shares of the utilities provider’s stock valued at $1,531,000 after acquiring an additional 248 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of El Paso Electric by 4.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,570 shares of the utilities provider’s stock valued at $495,000 after acquiring an additional 370 shares during the last quarter. 97.90% of the stock is owned by institutional investors.
About El Paso Electric
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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