El Paso Electric Co. (EE) Given $52.25 Consensus Target Price by Brokerages
Shares of El Paso Electric Co. (NYSE:EE) have been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and two have issued a strong buy recommendation on the company.
Brokerages have set a 12-month consensus price objective of $52.25 for the company and are expecting that the company will post $1.90 EPS for the current quarter, according to Zacks. Zacks has also assigned El Paso Electric an industry rank of 177 out of 265 based on the ratings given to its competitors.
EE has been the subject of a number of research analyst reports. Jefferies Group reiterated a “buy” rating and set a $52.50 price target on shares of El Paso Electric in a research report on Friday, September 23rd. Zacks Investment Research raised El Paso Electric from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Argus reissued a “hold” rating on shares of El Paso Electric in a report on Wednesday, October 5th.
El Paso Electric (NYSE:EE) opened at 42.95 on Monday. The firm’s 50-day moving average price is $45.61 and its 200 day moving average price is $45.77. The firm has a market cap of $1.74 billion, a P/E ratio of 23.52 and a beta of 0.33. El Paso Electric has a 52 week low of $35.32 and a 52 week high of $48.75.
El Paso Electric (NYSE:EE) last issued its earnings results on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing the 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 earned $217.87 million during the quarter, compared to the consensus estimate of $219.50 million. During the same quarter in the prior year, the business earned $0.52 EPS. Equities analysts forecast that El Paso Electric will post $2.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, September 12th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.89%. El Paso Electric’s dividend payout ratio is 67.76%.
Several institutional investors have recently made changes to their positions in the stock. Commonwealth Bank of Australia boosted its position 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 period. Emerald Acquisition Ltd. bought a new position in shares of El Paso Electric during the second quarter worth approximately $13,494,000. Goldman Sachs Group Inc. boosted its position 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 period. Vanguard Group Inc. boosted its position 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 period. Finally, Thompson Siegel & Walmsley LLC boosted its position 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 period. 96.20% of the stock is currently 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for El Paso Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.