El Paso Electric Company (NYSE:EE) – Research analysts at Jefferies Group reduced their Q3 2017 EPS estimates for El Paso Electric in a research note issued to investors on Friday. Jefferies Group analyst A. Crowdell now expects that the utilities provider will post earnings of $1.46 per share for the quarter, down from their prior estimate of $1.61. Jefferies Group currently has a “Hold” rating and a $57.00 target price on the stock. Jefferies Group also issued estimates for El Paso Electric’s FY2017 earnings at $2.65 EPS and FY2020 earnings at $3.06 EPS.
A number of other equities research analysts also recently weighed in on EE. BidaskClub raised El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Mizuho reaffirmed a “hold” rating and issued a $56.00 price target on shares of El Paso Electric in a research note on Wednesday, October 4th. ValuEngine downgraded El Paso Electric from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research raised El Paso Electric from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $55.50.
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El Paso Electric (EE) opened at 57.65 on Monday. El Paso Electric has a 12-month low of $42.62 and a 12-month high of $57.75. The stock has a market capitalization of $2.34 billion, a PE ratio of 20.83 and a beta of 0.47. The company’s 50-day moving average is $55.52 and its 200 day moving average is $53.03.
El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The business had revenue of $251.84 million during the quarter. During the same period in the previous year, the company posted $0.55 earnings per share.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in El Paso Electric by 34,872.4% in the first quarter. BlackRock Inc. now owns 5,344,481 shares of the utilities provider’s stock valued at $269,896,000 after acquiring an additional 5,329,199 shares during the last quarter. Vanguard Group Inc. boosted its holdings in El Paso Electric by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock valued at $196,130,000 after acquiring an additional 170,235 shares during the last quarter. FMR LLC boosted its holdings in El Paso Electric by 0.7% in the second quarter. FMR LLC now owns 1,995,235 shares of the utilities provider’s stock valued at $103,154,000 after acquiring an additional 13,300 shares during the last quarter. Northern Trust Corp boosted its holdings in El Paso Electric by 6.4% in the second quarter. Northern Trust Corp now owns 1,308,227 shares of the utilities provider’s stock valued at $67,635,000 after acquiring an additional 78,973 shares during the last quarter. Finally, State Street Corp boosted its holdings in El Paso Electric by 2.6% in the second quarter. State Street Corp now owns 1,083,231 shares of the utilities provider’s stock valued at $56,009,000 after acquiring an additional 27,558 shares during the last quarter. Institutional investors own 97.96% of the company’s stock.
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).
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