El Paso Electric’s (EE) “Hold” Rating Reaffirmed at Mizuho
Mizuho reiterated their hold rating on shares of El Paso Electric Company (NYSE:EE) in a report released on Wednesday morning. They currently have a $56.00 target price on the utilities provider’s stock.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut El Paso Electric from a strong-buy rating to a buy rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded El Paso Electric from a hold rating to a buy rating and set a $61.00 target price on the stock in a research note on Tuesday, September 19th. ValuEngine upgraded El Paso Electric from a hold rating to a buy rating in a research note on Thursday, September 7th. Finally, Jefferies Group LLC reiterated a hold rating and set a $56.00 target price (up from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $55.25.
El Paso Electric (EE) traded up 0.132% during trading on Wednesday, hitting $56.775. 164,581 shares of the company’s stock traded hands. El Paso Electric has a 52-week low of $42.49 and a 52-week high of $57.00. The company’s 50 day moving average price is $55.16 and its 200 day moving average price is $52.77. The company has a market cap of $2.30 billion, a PE ratio of 20.511 and a beta of 0.47.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.14. The company had revenue of $251.84 million for the quarter. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. During the same quarter in the previous year, the firm earned $0.55 earnings per share. Analysts expect that El Paso Electric will post $2.58 earnings per share for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in EE. Wells Fargo & Company MN increased its holdings in El Paso Electric by 5.4% in the 1st quarter. Wells Fargo & Company MN now owns 91,894 shares of the utilities provider’s stock worth $4,641,000 after acquiring an additional 4,714 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in El Paso Electric by 39.1% in the 1st quarter. UBS Asset Management Americas Inc. now owns 23,267 shares of the utilities provider’s stock worth $1,175,000 after acquiring an additional 6,546 shares during the last quarter. Karp Capital Management Corp purchased a new stake in El Paso Electric in the 1st quarter worth about $1,127,000. Ameriprise Financial Inc. increased its holdings in El Paso Electric by 2.7% in the 1st quarter. Ameriprise Financial Inc. now owns 303,382 shares of the utilities provider’s stock worth $15,320,000 after acquiring an additional 8,064 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in El Paso Electric in the 1st quarter worth about $176,000. 97.96% of the stock is owned by institutional investors.
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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