El Paso Electric (NYSE:EE) announced a quarterly dividend on Wednesday, November 28th, RTT News reports. Investors of record on Friday, December 14th will be paid a dividend of 0.36 per share by the utilities provider on Friday, December 28th. This represents a $1.44 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, December 13th.

El Paso Electric has raised its dividend by an average of 6.0% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. El Paso Electric has a payout ratio of 59.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect El Paso Electric to earn $2.58 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 55.8%.

Shares of NYSE EE opened at $53.99 on Friday. El Paso Electric has a 1 year low of $48.05 and a 1 year high of $64.35. The firm has a market cap of $2.17 billion, a P/E ratio of 22.31, a PEG ratio of 4.70 and a beta of 0.28. The company has a current ratio of 0.98, a quick ratio of 0.72 and a debt-to-equity ratio of 1.16.

El Paso Electric (NYSE:EE) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.12. El Paso Electric had a net margin of 11.67% and a return on equity of 9.19%. The firm had revenue of $300.27 million for the quarter. On average, research analysts anticipate that El Paso Electric will post 2.43 EPS for the current year.

A number of analysts recently issued reports on EE shares. ValuEngine raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. El Paso Electric presently has an average rating of “Hold” and an average price target of $56.00.

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About El Paso Electric

El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.

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Dividend History for El Paso Electric (NYSE:EE)

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