Zacks Investment Research upgraded shares of El Paso Electric (NYSE:EE) from a sell rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal facilities, as well as solar photovoltaic panels and wind turbines. The company owns or has ownership interests in various electrical generating facilities with a net dependable generating capability of approximately 2,080 megawatts; four 345 kilovolt (kV) transmission lines in New Mexico and Arizona; and three 500 kV lines in Arizona. It distributes electricity to retail customers principally in El Paso, Texas; and Las Cruces, New Mexico. The company serves approximately 411,100 residential, commercial, industrial, public authority, and wholesale customers. “

A number of other research analysts have also commented on EE. Mizuho reiterated a hold rating and set a $54.00 price target on shares of El Paso Electric in a report on Wednesday, January 10th. Jefferies Group lowered El Paso Electric from a hold rating to an underperform rating in a report on Monday, October 16th. ValuEngine lowered El Paso Electric from a buy rating to a hold rating in a report on Monday, October 2nd. Finally, Bank of America lowered El Paso Electric from a buy rating to a neutral rating and set a $62.00 target price for the company. in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $58.50.

El Paso Electric (EE) opened at $52.05 on Tuesday. El Paso Electric has a 1-year low of $44.70 and a 1-year high of $61.15. The company has a market capitalization of $2,084.40, a P/E ratio of 21.40, a PEG ratio of 3.69 and a beta of 0.48. 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 issued its quarterly 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 business had revenue of $297.47 million for the quarter, compared to analyst estimates of $310.00 million. During the same quarter last year, the firm earned $1.84 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. equities research analysts anticipate that El Paso Electric will post 2.5 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jennison Associates LLC raised its stake in shares of El Paso Electric by 13.6% in the fourth quarter. Jennison Associates LLC now owns 1,723,501 shares of the utilities provider’s stock valued at $95,396,000 after purchasing an additional 205,703 shares in the last quarter. Peregrine Capital Management LLC raised its stake in shares of El Paso Electric by 24.5% in the fourth quarter. Peregrine Capital Management LLC now owns 212,574 shares of the utilities provider’s stock valued at $11,766,000 after purchasing an additional 41,807 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of El Paso Electric by 372.0% in the fourth quarter. APG Asset Management N.V. now owns 119,900 shares of the utilities provider’s stock valued at $5,527,000 after purchasing an additional 94,500 shares in the last quarter. Bowling Portfolio Management LLC acquired a new position in shares of El Paso Electric in the fourth quarter valued at $748,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of El Paso Electric by 3.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 290,042 shares of the utilities provider’s stock valued at $16,054,000 after purchasing an additional 9,824 shares in the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

WARNING: “El Paso Electric (EE) Raised to “Hold” at Zacks Investment Research” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.watchlistnews.com/el-paso-electric-ee-raised-to-hold-at-zacks-investment-research/1825599.html.

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).

Get a free copy of the Zacks research report on El Paso Electric (EE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for El Paso Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric and related companies with MarketBeat.com's FREE daily email newsletter.