El Paso Electric Co. (EE) Sets New 1-Year High at $48.17
Shares of El Paso Electric Co. (NYSE:EE) reached a new 52-week high on Friday . The stock traded as high as $48.17 and last traded at $48.14, with a volume of 117,925 shares trading hands. The stock had previously closed at $47.20.
EE has been the topic of several analyst reports. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, April 12th. Jefferies Group reiterated a “hold” rating and issued a $47.00 target price (up previously from $44.00) on shares of El Paso Electric in a research note on Saturday, May 7th. Finally, Bank of America Corp. upgraded El Paso Electric from a “neutral” rating to a “buy” rating and set a $30.42 target price on the stock in a research note on Thursday, March 24th.
The firm has a 50 day moving average price of $46.43 and a 200 day moving average price of $43.59. The firm has a market cap of $1.95 billion and a price-to-earnings ratio of 26.81.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.07. The firm earned $113.80 million during the quarter, compared to analyst estimates of $114.80 million. During the same period in the previous year, the company posted $0.09 EPS. Equities research analysts forecast that El Paso Electric Co. will post $2.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 2.63%. This is an increase from El Paso Electric’s previous quarterly dividend of $0.30. The ex-dividend date was Monday, June 13th.
In related news, Director Charles Yamarone sold 5,500 shares of the stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $45.16, for a total transaction of $248,380.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at approximately $293,540. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
A number of institutional investors have recently bought and sold shares of EE. Russell Frank Co raised its position in El Paso Electric by 14.9% in the fourth quarter. Russell Frank Co now owns 72,833 shares of the company’s stock valued at $2,858,000 after buying an additional 9,418 shares during 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 during the last quarter. California State Teachers Retirement System raised its position in El Paso Electric by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 74,836 shares of the company’s stock valued at $2,881,000 after buying an additional 1,165 shares during the last quarter. 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 during the last quarter. Finally, 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 during 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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