El Paso Electric (NYSE:EE) had its price target raised by Mizuho from $50.00 to $58.00 in a research note published on Friday, March 29th, Stock Target Advisor reports. Mizuho currently has a neutral rating on the utilities provider’s stock.
Other research analysts have also issued research reports about the company. Zacks Investment Research lowered El Paso Electric from a buy rating to a hold rating in a report on Thursday, March 21st. TheStreet lowered El Paso Electric from a b rating to a c+ rating in a report on Wednesday, February 27th. Williams Capital raised El Paso Electric from a sell rating to a hold rating and lifted their target price for the company from $49.00 to $53.00 in a report on Monday, March 4th. Finally, Bank of America reaffirmed a neutral rating and set a $55.00 target price (up previously from $49.00) on shares of El Paso Electric in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, El Paso Electric presently has a consensus rating of Hold and an average target price of $58.00.
EE traded down $0.59 during trading hours on Friday, hitting $58.90. The stock had a trading volume of 130,832 shares, compared to its average volume of 208,254. El Paso Electric has a 1 year low of $47.99 and a 1 year high of $64.35. The firm has a market cap of $2.40 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 5.75 and a beta of 0.50. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.38 and a current ratio of 0.55.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.44%. El Paso Electric’s dividend payout ratio (DPR) is presently 61.80%.
Institutional investors and hedge funds have recently modified their holdings of the company. Sageworth Trust Co boosted its position in shares of El Paso Electric by 30.8% during the 1st quarter. Sageworth Trust Co now owns 785 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 185 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in shares of El Paso Electric during the 4th quarter valued at about $65,000. Strs Ohio lifted its position in El Paso Electric by 260.0% in the 4th quarter. Strs Ohio now owns 1,800 shares of the utilities provider’s stock worth $90,000 after buying an additional 1,300 shares during the last quarter. Quantbot Technologies LP bought a new stake in El Paso Electric in the 3rd quarter worth approximately $142,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in El Paso Electric by 36.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,994 shares of the utilities provider’s stock worth $150,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 95.06% 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 2,085 megawatts.
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