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

According to Zacks, “El Paso Electric Company is a regional electric utility providing generation, transmission and distribution service to the retail and wholesale customers of the Rio Grande valley in west Texas and southern New Mexico. El Paso Electric is one of the largest employers in the City of El Paso. “

Several other equities research analysts also recently weighed in on EE. Williams Capital downgraded shares of El Paso Electric from a hold rating to a sell rating and reduced their target price for the company from $52.00 to $49.00 in a research note on Monday, June 11th. ValuEngine raised shares of El Paso Electric from a hold rating to a buy rating in a research note on Wednesday, June 27th. Finally, Mizuho reissued a hold rating and issued a $58.00 target price on shares of El Paso Electric in a research note on Friday, July 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $56.20.

Shares of EE opened at $58.95 on Thursday. El Paso Electric has a twelve month low of $48.05 and a twelve month high of $64.35. The firm has a market capitalization of $2.40 billion, a PE ratio of 25.97, a PEG ratio of 5.19 and a beta of 0.31. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 1.22.

El Paso Electric (NYSE:EE) last announced its earnings results on Thursday, August 2nd. The utilities provider reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.12). El Paso Electric had a net margin of 10.21% and a return on equity of 8.12%. The firm had revenue of $236.80 million during the quarter. During the same quarter in the prior year, the company posted $0.89 earnings per share. equities research analysts predict that El Paso Electric will post 2.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Thursday, September 13th. El Paso Electric’s payout ratio is presently 59.50%.

Several hedge funds and other institutional investors have recently bought and sold shares of EE. Chicago Equity Partners LLC bought a new position in shares of El Paso Electric in the second quarter worth about $210,000. Meadow Creek Investment Management LLC grew its holdings in shares of El Paso Electric by 25.7% in the second quarter. Meadow Creek Investment Management LLC now owns 4,768 shares of the utilities provider’s stock worth $282,000 after purchasing an additional 976 shares during the last quarter. Trexquant Investment LP bought a new position in shares of El Paso Electric in the first quarter worth about $306,000. Van ECK Associates Corp grew its holdings in shares of El Paso Electric by 44.7% in the second quarter. Van ECK Associates Corp now owns 6,450 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 1,993 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of El Paso Electric by 13.8% in the first quarter. Riverhead Capital Management LLC now owns 9,072 shares of the utilities provider’s stock worth $463,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 97.60% of the company’s stock.

About El Paso Electric

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, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.

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