Zacks: Brokerages Set $53.00 Price Target for El Paso Electric Company (EE)
Shares of El Paso Electric Company (NYSE:EE) have been assigned an average broker rating score of 2.50 (Hold) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Analysts have set a one year consensus target price of $53.00 for the company and are expecting that the company will post $0.67 EPS for the current quarter, according to Zacks. Zacks has also given El Paso Electric Company an industry rank of 101 out of 265 based on the ratings given to related companies.
A number of brokerages recently issued reports on EE. BidaskClub lowered shares of El Paso Electric Company from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised shares of El Paso Electric Company from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC boosted their target price on shares of El Paso Electric Company from $48.50 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th.
El Paso Electric Company (EE) traded down 0.10% during midday trading on Tuesday, reaching $50.50. 175,638 shares of the company were exchanged. The firm’s 50-day moving average is $53.08 and its 200-day moving average is $49.54. The firm has a market cap of $2.05 billion, a P/E ratio of 20.79 and a beta of 0.49. El Paso Electric Company has a one year low of $42.49 and a one year high of $55.45.
El Paso Electric Company (NYSE:EE) last announced its earnings results on Wednesday, May 3rd. The utilities provider reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.05. El Paso Electric Company had a return on equity of 9.34% and a net margin of 10.95%. The company had revenue of $171.34 million for the quarter. During the same quarter in the prior year, the business earned ($0.14) earnings per share. On average, equities analysts expect that El Paso Electric Company will post $2.50 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were given a dividend of $0.335 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $1.34 dividend on an annualized basis and a yield of 2.65%. This is a positive change from El Paso Electric Company’s previous quarterly dividend of $0.31. El Paso Electric Company’s payout ratio is 55.14%.
In related news, Director Charles Yamarone sold 3,500 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total transaction of $183,645.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $524,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.33% of the company’s stock.
A number of large investors have recently bought and sold shares of EE. Wells Fargo & Company MN increased its stake in El Paso Electric Company by 5.4% in the first quarter. Wells Fargo & Company MN now owns 91,894 shares of the utilities provider’s stock worth $4,641,000 after buying an additional 4,714 shares in the last quarter. KAMES CAPITAL plc acquired a new stake in El Paso Electric Company during the first quarter worth $798,000. First Midwest Bank Trust Division increased its stake in El Paso Electric Company by 3.5% in the first quarter. First Midwest Bank Trust Division now owns 16,203 shares of the utilities provider’s stock worth $818,000 after buying an additional 546 shares in the last quarter. Shell Asset Management Co. acquired a new stake in El Paso Electric Company during the first quarter worth $1,101,000. Finally, Nationwide Fund Advisors increased its stake in El Paso Electric Company by 3.4% in the first quarter. Nationwide Fund Advisors now owns 77,165 shares of the utilities provider’s stock worth $3,897,000 after buying an additional 2,515 shares in the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.
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El Paso Electric Company Company Profile
El Paso Electric Company is a public utility company. As of December 31, 2016, the Company was 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. As of December 31, 2016, the Company owned or had ownership interests in several electrical generating facilities providing it with a generating capability of approximately 2,080 megawatts (MW).
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