El Paso Electric Co. (EE) Upgraded by Zacks Investment Research to Hold
El Paso Electric Co. (NYSE:EE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “El Paso Electric Co is a public utility engaged in the generation, transmission & distribution of electricity in an area of west Texas & southern New Mexico. El Paso also serves wholesale customers in Texas, New Mexico, California & Mexico. El Paso owns or has significant ownership interests in five electrical generating facilities providing it with a total capacity of approximately 1,500 MW. El Paso serves residential, commercial, industrial & wholesale customers. El Paso distributes electricity to retail customers principally in El Paso, Texas & the City of Las Cruces, New Mexico “
EE has been the subject of several other research reports. Argus reaffirmed a “hold” rating on shares of El Paso Electric in a research note on Wednesday, October 5th. Jefferies Group reaffirmed a “buy” rating and set a $52.50 price target on shares of El Paso Electric in a research note on Friday, September 23rd.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/el-paso-electric-co-ee-upgraded-by-zacks-investment-research-to-hold.html
El Paso Electric (NYSE:EE) traded down 2.36% during midday trading on Tuesday, reaching $42.57. The company had a trading volume of 286,918 shares. The company has a 50-day moving average price of $45.94 and a 200-day moving average price of $45.85. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 23.31 and a beta of 0.33. El Paso Electric has a one year low of $35.32 and a one year high of $48.75.
El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.25. The business had revenue of $217.87 million for the quarter, compared to the consensus estimate of $219.50 million. El Paso Electric had a net margin of 8.77% and a return on equity of 7.30%. During the same period in the prior year, the business posted $0.52 EPS. On average, equities analysts expect that El Paso Electric will post $2.38 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date was Monday, September 12th. El Paso Electric’s dividend payout ratio (DPR) is presently 67.76%.
Several large investors have recently added to or reduced their stakes in EE. Commonwealth Bank of Australia raised its stake in El Paso Electric by 126.4% in the second quarter. Commonwealth Bank of Australia now owns 1,105,266 shares of the company’s stock worth $52,245,000 after buying an additional 617,073 shares during the period. Emerald Acquisition Ltd. bought a new stake in El Paso Electric during the second quarter worth $13,494,000. Goldman Sachs Group Inc. raised its stake in El Paso Electric by 440.4% in the first quarter. Goldman Sachs Group Inc. now owns 219,200 shares of the company’s stock worth $10,057,000 after buying an additional 178,638 shares during the period. Vanguard Group Inc. raised its stake in El Paso Electric by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,533,585 shares of the company’s stock worth $167,032,000 after buying an additional 161,924 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in El Paso Electric by 207.0% in the second quarter. Thompson Siegel & Walmsley LLC now owns 238,699 shares of the company’s stock worth $11,283,000 after buying an additional 160,941 shares during the period. 96.20% of the stock is owned by institutional investors.
About El Paso Electric
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for El Paso Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.