El Paso Electric Co. (EE) Earns Hold Rating from Argus
A number of other brokerages have also recently commented on EE. Jefferies Group reaffirmed a buy rating and set a $52.50 price objective on shares of El Paso Electric in a research note on Friday, September 23rd. Zacks Investment Research cut shares of El Paso Electric from a hold rating to a sell rating in a research note on Tuesday, June 14th.
El Paso Electric (NYSE:EE) opened at 43.50 on Wednesday. El Paso Electric has a 12-month low of $35.32 and a 12-month high of $48.75. The stock has a market cap of $1.76 billion, a P/E ratio of 23.82 and a beta of 0.33. The stock has a 50 day moving average of $46.00 and a 200 day moving average of $45.83.
El Paso Electric (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by $0.25. El Paso Electric had a return on equity of 7.30% and a net margin of 8.77%. The business had revenue of $217.87 million for the quarter, compared to analysts’ expectations of $219.50 million. During the same period in the prior year, the business posted $0.52 earnings per share. On average, equities research analysts anticipate that El Paso Electric will post $2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a $0.31 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.24 dividend on an annualized basis and a yield of 2.85%. El Paso Electric’s dividend payout ratio is currently 67.76%.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in El Paso Electric by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,533,585 shares of the company’s stock worth $167,032,000 after buying an additional 161,924 shares in the last quarter. BlackRock Fund Advisors boosted its stake in El Paso Electric by 3.7% in the second quarter. BlackRock Fund Advisors now owns 2,733,740 shares of the company’s stock worth $129,224,000 after buying an additional 98,020 shares in the last quarter. Commonwealth Bank of Australia boosted its stake in El Paso Electric by 126.4% in the second quarter. Commonwealth Bank of Australia now owns 1,105,266 shares of the company’s stock worth $52,245,000 after buying an additional 617,073 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in El Paso Electric by 4.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,096,525 shares of the company’s stock worth $51,832,000 after buying an additional 43,450 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in El Paso Electric by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,096,481 shares of the company’s stock worth $50,307,000 after buying an additional 18,218 shares in the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.
About El Paso Electric
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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