El Paso Electric Company Plans Quarterly Dividend of $0.34 (EE)
El Paso Electric Company (NYSE:EE) declared a quarterly dividend on Thursday, July 27th, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.335 per share by the utilities provider on Friday, September 29th. This represents a $1.34 annualized dividend and a dividend yield of 2.58%.
El Paso Electric has raised its dividend payment by an average of 5.4% annually over the last three years and has increased its dividend every year for the last 5 years. El Paso Electric has a payout ratio of 53.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect El Paso Electric to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 49.3%.
Shares of El Paso Electric (EE) remained flat at $51.95 during trading on Thursday. 140,994 shares of the company’s stock traded hands. The company has a market cap of $2.11 billion, a PE ratio of 21.39 and a beta of 0.48. The firm has a 50 day moving average of $52.27 and a 200 day moving average of $50.12. El Paso Electric has a 52-week low of $42.49 and a 52-week high of $55.45.
El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, May 3rd. The utilities provider reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.05. El Paso Electric 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 previous year, the firm earned ($0.14) earnings per share. Equities analysts anticipate that El Paso Electric will post $2.48 EPS for the current year.
In other news, Director Charles Yamarone sold 3,500 shares of El Paso Electric stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $52.47, for a total value of $183,645.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $524,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.33% of the company’s stock.
Several research firms have recently weighed in on EE. BidaskClub lowered El Paso Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “strong sell” rating in a research report on Friday, July 21st. Finally, Jefferies Group LLC lifted their price objective on El Paso Electric from $48.50 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. El Paso Electric currently has a consensus rating of “Hold” and a consensus price target of $51.33.
El Paso Electric 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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