El Paso Electric Co. (EE) Hits New 52-Week High at $47.80
El Paso Electric Co. (NYSE:EE) reached a new 52-week high on Tuesday . The stock traded as high as $47.80 and last traded at $47.70, with a volume of 56,044 shares trading hands. The stock had previously closed at $47.54.
Several equities research analysts recently weighed in on EE shares. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a research note on Monday, March 21st. Jefferies Group raised shares of El Paso Electric from an “underperform” rating to a “hold” rating and increased their price target for the stock from $36.50 to $44.00 in a research report on Thursday, March 24th. Finally, Bank of America Corp. raised shares of El Paso Electric from a “neutral” rating to a “buy” rating and set a $30.42 price target for the company in a research report on Thursday, March 24th.
The firm has a market capitalization of $1.93 billion and a PE ratio of 26.46. The stock has a 50-day moving average of $45.44 and a 200-day moving average of $43.03.
El Paso Electric (NYSE:EE) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.07. The business had revenue of $113.80 million for the quarter, compared to analysts’ expectations of $114.80 million. During the same quarter in the prior year, the firm earned $0.09 EPS. On average, equities research analysts expect that El Paso Electric Co. will post $2.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were paid a dividend of $0.31 per share. This is an increase from El Paso Electric’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 2.61%.
In other news, Director Charles Yamarone sold 5,500 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $45.16, for a total transaction of $248,380.00. Following the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $293,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds and institutional investors have recently added to or reduced their stakes in EE. Comerica Bank raised its position in El Paso Electric by 0.8% in the fourth quarter. Comerica Bank now owns 41,243 shares of the company’s stock valued at $1,576,000 after buying an additional 332 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in El Paso Electric by 10.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 45,444 shares of the company’s stock valued at $1,750,000 after buying an additional 4,455 shares in the last quarter. Morgan Stanley raised its position in El Paso Electric by 108.2% in the fourth quarter. Morgan Stanley now owns 51,685 shares of the company’s stock valued at $1,990,000 after buying an additional 26,861 shares in the last quarter. New York State Common Retirement Fund raised its position in El Paso Electric by 23.8% in the fourth quarter. New York State Common Retirement Fund now owns 53,352 shares of the company’s stock valued at $2,054,000 after buying an additional 10,258 shares in the last quarter. Finally, Rhumbline Advisers raised its position in El Paso Electric by 1.3% in the fourth quarter. Rhumbline Advisers now owns 72,784 shares of the company’s stock valued at $2,802,000 after buying an additional 925 shares in the last quarter.
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.
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