El Paso Electric Co. Declares Quarterly Dividend of $0.27 (EE)
El Paso Electric (NYSE:EE) announced a quarterly dividend on Thursday, January 23rd, American Banking News reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.265 per share on Monday, March 31st. This represents a $1.06 annualized dividend and a dividend yield of 2.90%.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs Group Inc. downgraded shares of El Paso Electric from a “neutral” rating to a “sell” rating in a research note to investors on Monday, January 13th. Analysts at Jefferies Group downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, December 18th. They now have a $37.00 price target on the stock, down previously from $40.00. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. El Paso Electric presently has an average rating of “Hold” and a consensus target price of $37.21.
El Paso Electric (NYSE:EE) traded up 0.72% during mid-day trading on Thursday, hitting $36.54. The stock had a trading volume of 122,609 shares. El Paso Electric has a one year low of $32.26 and a one year high of $39.12. The stock’s 50-day moving average is $34.98 and its 200-day moving average is $35.23. The company has a market cap of $1.471 billion and a P/E ratio of 15.84.
El Paso Electric (NYSE:EE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.29 by $0.03. The company had revenue of $196.00 million for the quarter, compared to the consensus estimate of $273.76 million. During the same quarter last year, the company posted $1.29 earnings per share. El Paso Electric’s revenue was up .7% compared to the same quarter last year. On average, analysts predict that El Paso Electric will post $2.33 earnings per share for the current fiscal year.
El Paso Electric Company is engaged in the generation, transmission and distribution of electricity in an area of approximately 10,000 square miles in west Texas and southern New Mexico.
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