El Paso Electric Company (EE) Receives Average Recommendation of “Hold” from Brokerages

Shares of El Paso Electric Company (NYSE:EE) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $55.00.

A number of equities analysts have recently issued reports on EE shares. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, July 21st. Jefferies Group LLC restated a “hold” rating and issued a $57.00 price objective (up previously from $56.00) on shares of El Paso Electric in a research note on Friday, October 6th. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Mizuho restated a “hold” rating and issued a $56.00 price objective on shares of El Paso Electric in a research note on Wednesday, October 4th. Finally, Bank of America Corporation started coverage on shares of El Paso Electric in a research note on Tuesday, October 24th. They issued a “buy” rating and a $62.00 price objective for the company.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Amalgamated Bank grew its holdings in shares of El Paso Electric by 1.0% in the 2nd quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 55 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of El Paso Electric by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 90 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of El Paso Electric by 0.5% in the 2nd quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock worth $1,096,000 after purchasing an additional 100 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of El Paso Electric by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 29,612 shares of the utilities provider’s stock worth $1,531,000 after purchasing an additional 248 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of El Paso Electric by 4.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,570 shares of the utilities provider’s stock worth $495,000 after purchasing an additional 370 shares during the last quarter. 98.17% of the stock is currently owned by institutional investors and hedge funds.

El Paso Electric (EE) traded down $0.25 during trading hours on Tuesday, reaching $57.60. 195,168 shares of the company traded hands, compared to its average volume of 281,695. The stock has a market capitalization of $2,338.10, a price-to-earnings ratio of 24.00, a PEG ratio of 4.21 and a beta of 0.47. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.41 and a current ratio of 0.54.

El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23). The company had revenue of $297.47 million for the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a net margin of 10.13% and a return on equity of 8.56%. El Paso Electric’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 earnings per share. equities research analysts anticipate that El Paso Electric will post 2.55 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.335 dividend. This represents a $1.34 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, December 14th. El Paso Electric’s payout ratio is 55.83%.

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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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