Shares of El Paso Electric (NYSE:EE) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $55.00.
EE has been the subject of several recent research reports. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research report on Wednesday. Williams Capital lowered shares of El Paso Electric from a “hold” rating to a “sell” rating and reduced their price objective for the company from $52.00 to $49.00 in a research note on Monday, June 11th. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $51.00 price objective on shares of El Paso Electric in a research note on Friday, May 4th.
NYSE EE traded up $0.05 on Friday, hitting $58.65. The company’s stock had a trading volume of 128,100 shares, compared to its average volume of 276,104. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.25 and a current ratio of 0.38. El Paso Electric has a 1-year low of $48.05 and a 1-year high of $61.15. The stock has a market cap of $2.37 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 4.40 and a beta of 0.42.
El Paso Electric (NYSE:EE) last announced its quarterly earnings results on Thursday, May 3rd. The utilities provider reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). El Paso Electric had a net margin of 9.76% and a return on equity of 8.20%. The business had revenue of $175.71 million during the quarter. analysts predict that El Paso Electric will post 2.6 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be paid a $0.36 dividend. This is a positive change from El Paso Electric’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, June 14th. El Paso Electric’s dividend payout ratio is currently 59.50%.
Several large investors have recently bought and sold shares of EE. Millennium Management LLC boosted its stake in shares of El Paso Electric by 45.8% in the 1st quarter. Millennium Management LLC now owns 1,016,531 shares of the utilities provider’s stock valued at $51,843,000 after purchasing an additional 319,407 shares during the last quarter. Victory Capital Management Inc. bought a new position in El Paso Electric during the first quarter worth $16,054,000. Renaissance Technologies LLC boosted its stake in El Paso Electric by 31.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,121,700 shares of the utilities provider’s stock worth $62,086,000 after acquiring an additional 268,200 shares in the last quarter. Guggenheim Capital LLC boosted its stake in El Paso Electric by 354.7% during the first quarter. Guggenheim Capital LLC now owns 192,352 shares of the utilities provider’s stock worth $9,810,000 after acquiring an additional 150,046 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake 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 acquiring an additional 90,905 shares in the last quarter. 97.60% of the stock is currently owned by institutional investors.
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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