El Paso Electric Company (NYSE:EE) – Stock analysts at Jefferies Group reduced their FY2018 earnings per share (EPS) estimates for shares of El Paso Electric in a report issued on Monday. Jefferies Group analyst A. Crowdell now forecasts that the utilities provider will earn $2.41 per share for the year, down from their prior forecast of $2.65. Jefferies Group has a “Underperform” rating on the stock. Jefferies Group also issued estimates for El Paso Electric’s FY2019 earnings at $2.67 EPS.

El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.14. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. The firm had revenue of $251.84 million during the quarter. During the same quarter in the prior year, the company earned $0.55 earnings per share.

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A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “strong sell” rating in a research report on Friday, July 21st. BidaskClub downgraded El Paso Electric from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Finally, Mizuho reiterated a “hold” rating and set a $56.00 target price on shares of El Paso Electric in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $55.50.

El Paso Electric (NYSE EE) traded down 0.26% on Wednesday, reaching $57.25. The company’s stock had a trading volume of 155,646 shares. The company has a 50-day moving average price of $56.01 and a 200 day moving average price of $53.37. El Paso Electric has a 12 month low of $43.50 and a 12 month high of $58.70. The company has a market cap of $2.32 billion, a P/E ratio of 20.68 and a beta of 0.47.

Several hedge funds have recently made changes to their positions in the stock. Lord Abbett & CO. LLC lifted its position in shares of El Paso Electric by 160.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock worth $18,059,000 after buying an additional 215,109 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of El Paso Electric by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock worth $478,000 after buying an additional 90 shares during the last quarter. 1st Global Advisors Inc. bought a new stake in shares of El Paso Electric during the 2nd quarter worth $202,000. Piedmont Investment Advisors LLC bought a new stake in shares of El Paso Electric during the 2nd quarter worth $456,000. Finally, Susquehanna International Group LLP bought a new stake in shares of El Paso Electric during the 2nd quarter worth $750,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

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).

Earnings History and Estimates for El Paso Electric (NYSE:EE)

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