Shares of El Paso Electric Co. (NYSE:EE) have been given an average broker rating score of 2.33 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. El Paso Electric’s rating score has declined by 39.5% from three months ago as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 1-year consensus price target of $49.25 for the company and are expecting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned El Paso Electric an industry rank of 87 out of 265 based on the ratings given to its competitors.
Several research firms have recently commented on EE. Jefferies Group restated a “buy” rating and set a $52.50 price objective on shares of El Paso Electric in a report on Friday, September 23rd. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “sell” rating in a report on Friday, November 4th. Finally, Argus reiterated a “hold” rating on shares of El Paso Electric in a report on Wednesday, October 5th.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in El Paso Electric by 1.4% in the second quarter. ProShare Advisors LLC now owns 6,615 shares of the company’s stock valued at $313,000 after buying an additional 89 shares in the last quarter. Stifel Financial Corp boosted its position in El Paso Electric by 1.5% in the second quarter. Stifel Financial Corp now owns 6,002 shares of the company’s stock valued at $284,000 after buying an additional 91 shares in the last quarter. US Bancorp DE boosted its position in El Paso Electric by 0.6% in the third quarter. US Bancorp DE now owns 19,857 shares of the company’s stock valued at $929,000 after buying an additional 127 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in El Paso Electric by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,980 shares of the company’s stock valued at $420,000 after buying an additional 140 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its position in El Paso Electric by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,134 shares of the company’s stock valued at $243,000 after buying an additional 188 shares in the last quarter. 96.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of El Paso Electric (NYSE:EE) opened at 46.20 on Wednesday. The firm’s 50-day moving average price is $44.63 and its 200 day moving average price is $45.72. The firm has a market cap of $1.87 billion, a P/E ratio of 20.36 and a beta of 0.41. El Paso Electric has a one year low of $35.32 and a one year high of $48.75.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $1.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by $0.06. The firm had revenue of $323.23 million for the quarter, compared to the consensus estimate of $289.71 million. El Paso Electric had a net margin of 10.48% and a return on equity of 8.95%. During the same quarter in the prior year, the firm earned $1.40 EPS. Analysts predict that El Paso Electric will post $2.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, December 14th will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, December 12th. This represents a $1.24 annualized dividend and a yield of 2.68%. El Paso Electric’s dividend payout ratio (DPR) is currently 54.63%.
El Paso Electric Company Profile
El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.