Zacks Investment Research lowered shares of El Paso Electric Company (NYSE:EE) from a buy rating to a hold rating in a research note published on Thursday.

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 “

Several other analysts have also weighed in on EE. BidaskClub lowered El Paso Electric from a strong-buy rating to a buy rating in a report on Thursday, June 15th. Jefferies Group LLC reissued a hold rating and issued a $56.00 target price (up previously from $55.00) on shares of El Paso Electric in a report on Friday, August 11th. Mizuho started coverage on El Paso Electric in a research report on Thursday, August 17th. They issued a neutral rating and a $55.00 price objective on the stock. Finally, ValuEngine upgraded El Paso Electric from a hold rating to a buy rating in a research report on Thursday, September 7th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $55.00.

El Paso Electric (EE) opened at 54.65 on Thursday. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 19.74 and a beta of 0.48. El Paso Electric has a one year low of $42.49 and a one year high of $56.58. The firm has a 50-day moving average price of $54.54 and a 200-day moving average price of $52.24.

El Paso Electric (NYSE:EE) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.14. The company had revenue of $251.84 million for the quarter. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. During the same period last year, the company posted $0.55 EPS. On average, equities analysts predict that El Paso Electric will post $2.59 earnings per share for the current year.

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Large investors have recently modified their holdings of the company. Neuburgh Advisers LLC lifted its position in shares of 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 acquiring an additional 22 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of El Paso Electric in the first quarter valued at $176,000. Sciencast Management LP purchased a new stake in shares of El Paso Electric in the second quarter valued at $202,000. 1st Global Advisors Inc. purchased a new stake in shares of El Paso Electric in the second quarter valued at $202,000. Finally, Shelton Capital Management purchased a new stake in shares of El Paso Electric in the second quarter valued at $208,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

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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