Zacks: El Paso Electric Co. (NYSE:EE) Given Average Recommendation of “Buy” by Brokerages
El Paso Electric Co. (NYSE:EE) has received a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and two have assigned a strong buy recommendation to the company.
Analysts have set a 1-year consensus price target of $52.25 for the company and are expecting that the company will post $1.90 EPS for the current quarter, according to Zacks. Zacks has also given El Paso Electric an industry rank of 176 out of 265 based on the ratings given to related companies.
A number of brokerages have recently issued reports on EE. Jefferies Group reiterated a “buy” rating on shares of El Paso Electric in a report on Thursday, August 4th. Argus reiterated a “hold” rating on shares of El Paso Electric in a report on Wednesday, October 5th. Finally, Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of El Paso Electric by 2.9% in the second quarter. Macquarie Group Ltd. now owns 950,544 shares of the company’s stock valued at $44,932,000 after buying an additional 26,981 shares during the period. Mason Street Advisors LLC acquired a new position in shares of El Paso Electric during the second quarter valued at $374,000. Schwab Charles Investment Management Inc. increased its position in shares of El Paso Electric by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 214,175 shares of the company’s stock valued at $10,125,000 after buying an additional 3,609 shares during the period. Stifel Financial Corp increased its position in shares of El Paso Electric by 1.5% in the second quarter. Stifel Financial Corp now owns 6,002 shares of the company’s stock valued at $284,000 after buying an additional 91 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of El Paso Electric during the second quarter valued at $226,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.
El Paso Electric (NYSE:EE) remained flat at $43.50 on Monday. 185,523 shares of the stock were exchanged. The company has a 50-day moving average of $46.00 and a 200 day moving average of $45.83. El Paso Electric has a 52-week low of $35.32 and a 52-week high of $48.75. The company has a market capitalization of $1.76 billion, a P/E ratio of 23.82 and a beta of 0.33.
El Paso Electric (NYSE:EE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.25. El Paso Electric had a net margin of 8.77% and a return on equity of 7.30%. The company earned $217.87 million during the quarter, compared to analysts’ expectations of $219.50 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. Equities analysts predict that El Paso Electric will post $2.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.24 annualized dividend and a yield of 2.85%. El Paso Electric’s dividend payout ratio (DPR) is 67.76%.
El Paso Electric Company Profile
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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.
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