El Paso Electric Company (EE) Reaches New 52-Week High at $55.90
Shares of El Paso Electric Company (NYSE:EE) reached a new 52-week high on Friday . The stock traded as high as $55.90 and last traded at $55.90, with a volume of 39,366 shares trading hands. The stock had previously closed at $55.50.
Several research firms have recently weighed in on EE. BidaskClub raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. ValuEngine raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut shares of El Paso Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, July 21st. Mizuho began coverage on shares of El Paso Electric in a research note on Thursday, August 17th. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $56.00 price target (up previously from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.25.
The firm has a 50-day moving average price of $53.83 and a 200-day moving average price of $51.83. The company has a market capitalization of $2.27 billion, a PE ratio of 20.20 and a beta of 0.48.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The firm had revenue of $251.84 million during the quarter. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Equities analysts expect that El Paso Electric Company will post $2.57 earnings per share for the current fiscal year.
In related news, Director Charles Yamarone sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total value of $183,645.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $524,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.33% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Neuburgh Advisers LLC grew its holdings in El Paso Electric by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 22 shares during the period. Tyers Asset Management LLC grew its holdings in El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 28 shares during the period. Flinton Capital Management LLC grew its holdings in El Paso Electric by 1.1% in the first quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 34 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in El Paso Electric in the first quarter valued at approximately $176,000. Finally, Sciencast Management LP purchased a new stake in El Paso Electric in the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.
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About El Paso Electric
El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was 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. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).
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