El Paso Electric Company Forecasted to Earn Q3 2017 Earnings of $1.61 Per Share (EE)
El Paso Electric Company (NYSE:EE) – Research analysts at Jefferies Group issued their Q3 2017 earnings estimates for El Paso Electric in a research report issued on Thursday. Jefferies Group analyst A. Crowdell forecasts that the utilities provider will post earnings of $1.61 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $52.00 target price on the stock. Jefferies Group also issued estimates for El Paso Electric’s Q4 2017 earnings at $0.00 EPS.
El Paso Electric (NYSE:EE) last posted its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.75 by $0.14. The firm had revenue of $251.84 million during the quarter. El Paso Electric had a return on equity of 9.99% and a net margin of 11.45%. During the same quarter in the prior year, the business posted $0.55 earnings per share.
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Several other research firms also recently weighed in on EE. Zacks Investment Research downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub downgraded shares of El Paso Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $51.33.
El Paso Electric (NYSE:EE) opened at 53.35 on Monday. The firm has a 50-day moving average price of $52.00 and a 200 day moving average price of $50.32. El Paso Electric has a 52-week low of $42.49 and a 52-week high of $55.45. The company has a market capitalization of $2.16 billion, a P/E ratio of 19.27 and a beta of 0.48.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP increased its position in El Paso Electric by 17.3% in the first quarter. First Trust Advisors LP now owns 376,042 shares of the utilities provider’s stock valued at $18,990,000 after buying an additional 55,370 shares during the period. Tyers Asset Management LLC boosted its stake in shares of El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock valued at $133,000 after buying an additional 28 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of El Paso Electric by 6.5% in the first quarter. Great West Life Assurance Co. Can now owns 56,350 shares of the utilities provider’s stock valued at $2,842,000 after buying an additional 3,456 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of El Paso Electric by 5.4% in the first quarter. Wells Fargo & Company MN now owns 91,894 shares of the utilities provider’s stock valued at $4,641,000 after buying an additional 4,714 shares in the last quarter. Finally, KAMES CAPITAL plc acquired a new stake in shares of El Paso Electric during the first quarter valued at about $798,000. Hedge funds and other institutional investors own 96.93% of the company’s stock.
In related news, Director Charles Yamarone sold 3,500 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total transaction of $183,645.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $524,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.33% of the stock is owned by corporate insiders.
About El Paso Electric
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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