Analysts Set El Paso Electric (EE) Target Price at $55.00
Shares of El Paso Electric (NYSE:EE) have been given an average recommendation of “Hold” by the seven analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $55.00.
EE has been the topic of several research analyst reports. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. Zacks Investment Research upgraded El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, September 19th. Mizuho restated a “hold” rating and set a $56.00 price objective on shares of El Paso Electric in a research note on Wednesday, October 4th. Jefferies Group restated a “hold” rating and set a $57.00 price objective (up from $56.00) on shares of El Paso Electric in a research note on Friday, October 6th. Finally, Bank of America initiated coverage on El Paso Electric in a research note on Tuesday, October 24th. They set a “buy” rating and a $62.00 price objective on the stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in El Paso Electric during the third quarter worth about $179,000. 1st Global Advisors Inc. acquired a new position in El Paso Electric during the second quarter worth about $202,000. Sciencast Management LP acquired a new position in El Paso Electric during the second quarter worth about $202,000. Shelton Capital Management acquired a new position in El Paso Electric during the second quarter worth about $208,000. Finally, Neuberger Berman Group LLC acquired a new position in El Paso Electric during the second quarter worth about $221,000. 98.66% of the stock is currently owned by institutional investors.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23). The business had revenue of $297.47 million for the quarter, compared to analysts’ expectations of $310.00 million. El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 earnings per share. equities research analysts anticipate that El Paso Electric will post 2.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, December 14th. El Paso Electric’s dividend payout ratio (DPR) is 55.83%.
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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