El Paso Electric Co. (EE) Shares Down 1.9%
El Paso Electric Co. (NYSE:EE)’s share price traded down 1.9% during mid-day trading on Thursday . The company traded as low as $46.59 and last traded at $46.64, with a volume of 92,297 shares. The stock had previously closed at $47.55.
A number of equities analysts have issued reports on the stock. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th. Jefferies Group restated a “hold” rating and set a $47.00 target price (up previously from $44.00) on shares of El Paso Electric in a research report on Saturday, May 7th. Finally, Bank of America Corp. upgraded shares of El Paso Electric from a “neutral” rating to a “buy” rating and set a $30.42 target price for the company in a research report on Thursday, March 24th.
The company has a 50 day moving average price of $45.54 and a 200 day moving average price of $43.06. The stock has a market capitalization of $1.88 billion and a price-to-earnings ratio of 25.85.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.07. During the same period in the prior year, the company earned $0.09 EPS. The firm had revenue of $113.80 million for the quarter, compared to analyst estimates of $114.80 million. Analysts predict that El Paso Electric Co. will post $2.52 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Wednesday, June 15th were given a $0.31 dividend. This is a boost 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 dividend on an annualized basis and a yield of 2.67%.
In related news, Director Charles Yamarone sold 5,500 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $45.16, for a total value of $248,380.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at approximately $293,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
A number of institutional investors recently made changes to their positions in the stock. Comerica Bank raised its position in shares of El Paso Electric by 0.8% in the fourth quarter. Comerica Bank now owns 41,243 shares of the company’s stock worth $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 shares of 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 worth $1,750,000 after buying an additional 4,455 shares in the last quarter. Morgan Stanley raised its position in shares of El Paso Electric by 108.2% in the fourth quarter. Morgan Stanley now owns 51,685 shares of the company’s stock worth $1,990,000 after buying an additional 26,861 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of 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 worth $2,054,000 after buying an additional 10,258 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of El Paso Electric by 1.3% in the fourth quarter. Rhumbline Advisers now owns 72,784 shares of the company’s stock worth $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.