Zacks Investment Research upgraded shares of El Paso Electric (NYSE:EE) from a sell rating to a hold rating in a research report sent to investors on Thursday, September 20th.
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. “
EE has been the topic of a number of other research reports. ValuEngine upgraded El Paso Electric from a hold rating to a buy rating in a report on Tuesday, September 4th. Mizuho reiterated a hold rating and set a $58.00 target price on shares of El Paso Electric in a report on Friday, July 20th. Finally, Williams Capital cut El Paso Electric from a hold rating to a sell rating and lowered their target price for the company from $52.00 to $49.00 in a report on Monday, June 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. El Paso Electric presently has an average rating of Hold and a consensus price target of $56.00.
Shares of EE traded down $0.42 on Thursday, reaching $57.56. The stock had a trading volume of 176,661 shares, compared to its average volume of 266,821. The stock has a market cap of $2.33 billion, a P/E ratio of 23.79, a P/E/G ratio of 5.04 and a beta of 0.34. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.84 and a quick ratio of 0.61. El Paso Electric has a twelve month low of $48.05 and a twelve month high of $64.35.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.12). The firm had revenue of $236.80 million during the quarter. El Paso Electric had a return on equity of 8.12% and a net margin of 10.21%. During the same quarter in the prior year, the company posted $0.89 EPS. Research analysts expect that El Paso Electric will post 2.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, September 13th. El Paso Electric’s dividend payout ratio (DPR) is presently 59.50%.
A number of large investors have recently added to or reduced their stakes in EE. Wells Fargo & Company MN grew its stake in shares of El Paso Electric by 39.1% during the first quarter. Wells Fargo & Company MN now owns 323,575 shares of the utilities provider’s stock valued at $16,502,000 after acquiring an additional 90,905 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of El Paso Electric by 16.1% during the first quarter. SG Americas Securities LLC now owns 19,635 shares of the utilities provider’s stock valued at $1,001,000 after acquiring an additional 2,730 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of El Paso Electric during the first quarter valued at about $306,000. Swiss National Bank grew its stake in shares of El Paso Electric by 3.7% during the first quarter. Swiss National Bank now owns 70,700 shares of the utilities provider’s stock valued at $3,606,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of El Paso Electric by 4.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 303,393 shares of the utilities provider’s stock valued at $15,474,000 after acquiring an additional 13,351 shares in the last quarter. 97.60% of the stock is currently owned by institutional investors.
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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