El Paso Electric Company (EE) Research Coverage Started at Williams Capital
Equities researchers at Williams Capital began coverage on shares of El Paso Electric Company (NYSE:EE) in a research note issued to investors on Wednesday. The firm set a “hold” rating and a $48.00 price target on the stock. Williams Capital’s target price would suggest a potential upside of 4.12% from the stock’s previous close.
EE has been the topic of a number of other reports. Jefferies Group lowered shares of El Paso Electric Company from a “buy” rating to a “hold” rating and cut their target price for the stock from $50.00 to $46.50 in a research note on Tuesday, November 15th. They noted that the move was a valuation call. Argus restated a “hold” rating on shares of El Paso Electric Company in a research note on Wednesday, October 5th. Finally, Zacks Investment Research upgraded shares of El Paso Electric Company from a “sell” rating to a “hold” rating in a research note on Monday, January 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $42.73.
Shares of El Paso Electric Company (NYSE:EE) opened at 46.10 on Wednesday. El Paso Electric Company has a 52 week low of $37.19 and a 52 week high of $48.75. The firm’s 50-day moving average is $46.46 and its 200 day moving average is $46.05. The firm has a market capitalization of $1.87 billion, a PE ratio of 20.32 and a beta of 0.42.
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El Paso Electric Company (NYSE:EE) last released its earnings results on Wednesday, November 2nd. The company reported $1.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.90 by $0.06. El Paso Electric Company had a return on equity of 8.95% and a net margin of 10.48%. The firm had revenue of $323.23 million for the quarter, compared to analysts’ expectations of $289.71 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. On average, equities analysts forecast that El Paso Electric Company will post $2.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, December 14th were paid a $0.31 dividend. The ex-dividend date of this dividend was Monday, December 12th. This represents a $1.24 annualized dividend and a yield of 2.69%. El Paso Electric Company’s dividend payout ratio is currently 54.63%.
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In other El Paso Electric Company news, Director John Robert Brown sold 10,500 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $47.74, for a total value of $501,270.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at $1,670,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.33% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of EE. Quantbot Technologies LP increased its stake in El Paso Electric Company by 10.9% in the third quarter. Quantbot Technologies LP now owns 2,516 shares of the company’s stock valued at $117,000 after buying an additional 248 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in El Paso Electric Company during the second quarter valued at $200,000. Paloma Partners Management Co purchased a new stake in El Paso Electric Company during the second quarter valued at $215,000. Amalgamated Bank purchased a new stake in El Paso Electric Company during the second quarter valued at $226,000. Finally, PineBridge Investments L.P. increased its stake in El Paso Electric Company by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,134 shares of the company’s stock valued at $243,000 after buying an additional 188 shares during the last quarter. 96.50% of the stock is owned by institutional investors and hedge funds.
About El Paso Electric Company
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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