El Paso Electric Co. (EE) Raised to Hold at Zacks Investment Research
According to Zacks, “El Paso Electric Co is a public utility engaged in the generation, transmission & distribution of electricity in an area of west Texas & southern New Mexico. El Paso also serves wholesale customers in Texas, New Mexico, California & Mexico. El Paso owns or has significant ownership interests in five electrical generating facilities providing it with a total capacity of approximately 1,500 MW. El Paso serves residential, commercial, industrial & wholesale customers. El Paso distributes electricity to retail customers principally in El Paso, Texas & the City of Las Cruces, New Mexico “
Other equities analysts have also recently issued reports about the stock. Jefferies Group reaffirmed a buy rating on shares of El Paso Electric in a research report on Thursday, August 4th. Argus reaffirmed a hold rating on shares of El Paso Electric in a research report on Wednesday, October 5th.
Shares of El Paso Electric (NYSE:EE) opened at 43.05 on Tuesday. The firm has a market cap of $1.74 billion, a PE ratio of 23.58 and a beta of 0.33. The company’s 50 day moving average is $45.69 and its 200-day moving average is $45.78. El Paso Electric has a 12 month low of $35.32 and a 12 month high of $48.75.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $217.87 million for the quarter, compared to the consensus estimate of $219.50 million. During the same period last year, the firm earned $0.52 earnings per share. Equities research analysts predict that El Paso Electric will post $2.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were given a $0.31 dividend. The ex-dividend date was Monday, September 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.88%. El Paso Electric’s payout ratio is presently 67.76%.
Several large investors have recently made changes to their positions in EE. Commonwealth Bank of Australia boosted its stake in shares of 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 during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of El Paso Electric during the second quarter worth about $13,494,000. Goldman Sachs Group Inc. boosted its stake in shares of El Paso Electric by 440.4% in the first quarter. Goldman Sachs Group Inc. now owns 219,200 shares of the company’s stock worth $10,057,000 after buying an additional 178,638 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of 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 during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of El Paso Electric by 207.0% in the second quarter. Thompson Siegel & Walmsley LLC now owns 238,699 shares of the company’s stock worth $11,283,000 after buying an additional 160,941 shares during the last quarter. 96.20% of the stock is owned by 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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