ValuEngine Lowers El Paso Electric (NYSE:EE) to Hold

ValuEngine cut shares of El Paso Electric (NYSE:EE) from a buy rating to a hold rating in a report issued on Friday, November 2nd.

Other equities analysts also recently issued reports about the stock. Mizuho reaffirmed a hold rating and set a $58.00 price objective on shares of El Paso Electric in a report on Friday, July 20th. Zacks Investment Research downgraded shares of El Paso Electric from a hold rating to a sell rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. El Paso Electric presently has an average rating of Hold and a consensus target price of $56.00.

NYSE:EE traded up $0.08 during midday trading on Friday, reaching $58.37. The stock had a trading volume of 165,579 shares, compared to its average volume of 222,211. El Paso Electric has a 1-year low of $48.05 and a 1-year high of $64.35. The company has a current ratio of 0.98, a quick ratio of 0.61 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $2.37 billion, a PE ratio of 24.12, a PEG ratio of 5.14 and a beta of 0.29.

El Paso Electric (NYSE:EE) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.12. The business had revenue of $300.27 million for the quarter. El Paso Electric had a net margin of 11.67% and a return on equity of 9.19%. As a group, analysts anticipate that El Paso Electric will post 2.43 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Chicago Equity Partners LLC acquired a new stake in El Paso Electric in the 2nd quarter valued at about $210,000. Meadow Creek Investment Management LLC increased its position in El Paso Electric by 25.7% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,768 shares of the utilities provider’s stock valued at $282,000 after acquiring an additional 976 shares in the last quarter. Van ECK Associates Corp increased its position in El Paso Electric by 44.7% in the 2nd quarter. Van ECK Associates Corp now owns 6,450 shares of the utilities provider’s stock valued at $381,000 after acquiring an additional 1,993 shares in the last quarter. Tyers Asset Management LLC increased its position in El Paso Electric by 11.2% in the 2nd quarter. Tyers Asset Management LLC now owns 8,344 shares of the utilities provider’s stock valued at $493,000 after acquiring an additional 840 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of El Paso Electric during the 2nd quarter worth approximately $508,000. Hedge funds and other institutional investors own 99.94% of the company’s stock.

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.

Featured Article: Do closed-end mutual funds pay dividends?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for El Paso Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply