El Paso Electric (EE) Given Consensus Recommendation of “Hold” by Brokerages

El Paso Electric (NYSE:EE) has earned an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $52.67.

Several analysts have issued reports on the company. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “sell” rating in a research note on Monday, August 6th. ValuEngine downgraded El Paso Electric from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Mizuho reaffirmed a “hold” rating and issued a $58.00 target price on shares of El Paso Electric in a research report on Friday, July 20th. Williams Capital downgraded El Paso Electric from a “hold” rating to a “sell” rating and lowered their target price for the company from $52.00 to $49.00 in a research report on Monday, June 11th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $51.00 target price on shares of El Paso Electric in a research report on Friday, May 4th.

Several large investors have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC grew its holdings in El Paso Electric by 37.9% during the fourth quarter. Guggenheim Capital LLC now owns 42,306 shares of the utilities provider’s stock worth $2,341,000 after purchasing an additional 11,637 shares during the period. Wells Fargo & Company MN grew its holdings in El Paso Electric by 39.1% during the first quarter. Wells Fargo & Company MN now owns 323,575 shares of the utilities provider’s stock worth $16,502,000 after purchasing an additional 90,905 shares during the period. Comerica Bank grew its holdings in El Paso Electric by 8.5% during the first quarter. Comerica Bank now owns 152,984 shares of the utilities provider’s stock worth $7,573,000 after purchasing an additional 11,961 shares during the period. New York State Teachers Retirement System grew its holdings in El Paso Electric by 1.9% during the first quarter. New York State Teachers Retirement System now owns 136,300 shares of the utilities provider’s stock worth $6,951,000 after purchasing an additional 2,600 shares during the period. Finally, SG Americas Securities LLC grew its holdings in El Paso Electric by 16.1% during the first quarter. SG Americas Securities LLC now owns 19,635 shares of the utilities provider’s stock worth $1,001,000 after purchasing an additional 2,730 shares during the period.

EE opened at $63.35 on Friday. El Paso Electric has a 1 year low of $48.05 and a 1 year high of $64.35. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 26.18, a PEG ratio of 5.54 and a beta of 0.40. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.25 and a current ratio of 0.84.

El Paso Electric (NYSE:EE) last released its quarterly earnings results on Thursday, August 2nd. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.12). El Paso Electric had a net margin of 10.21% and a return on equity of 8.12%. The firm had revenue of $236.80 million during the quarter. During the same quarter last year, the company earned $0.89 earnings per share. analysts expect that El Paso Electric will post 2.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Thursday, September 13th. El Paso Electric’s dividend payout ratio is currently 59.50%.

El Paso Electric Company Profile

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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