Shares of El Paso Electric (NYSE:EE) have earned an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $55.33.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of El Paso Electric from a “hold” rating to a “sell” rating in a research note on Monday. TheStreet upgraded El Paso Electric from a “c+” rating to a “b-” rating in a research report on Wednesday, April 24th. ValuEngine downgraded El Paso Electric from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Mizuho upped their price objective on El Paso Electric from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Friday, March 29th. Finally, Williams Capital upgraded El Paso Electric from a “sell” rating to a “hold” rating and upped their price objective for the stock from $49.00 to $53.00 in a research report on Monday, March 4th.
Institutional investors have recently bought and sold shares of the business. 6 Meridian raised its position in shares of El Paso Electric by 22.8% during the first quarter. 6 Meridian now owns 13,582 shares of the utilities provider’s stock worth $799,000 after acquiring an additional 2,519 shares during the last quarter. Bank of New York Mellon Corp grew its stake in El Paso Electric by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 651,447 shares of the utilities provider’s stock valued at $37,262,000 after acquiring an additional 23,984 shares during the period. Vanguard Group Inc. grew its stake in El Paso Electric by 3.9% in the third quarter. Vanguard Group Inc. now owns 4,369,640 shares of the utilities provider’s stock valued at $249,943,000 after acquiring an additional 163,641 shares during the period. BlackRock Inc. grew its stake in El Paso Electric by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,178,968 shares of the utilities provider’s stock valued at $309,753,000 after acquiring an additional 197,600 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in El Paso Electric by 7.4% in the fourth quarter. Nuveen Asset Management LLC now owns 520,758 shares of the utilities provider’s stock valued at $26,106,000 after acquiring an additional 35,827 shares during the period. Hedge funds and other institutional investors own 95.10% of the company’s stock.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.29). The company had revenue of $174.36 million during the quarter. El Paso Electric had a return on equity of 8.61% and a net margin of 10.79%. As a group, equities analysts expect that El Paso Electric will post 2.39 EPS for the current fiscal year.
About El Paso Electric
El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.
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