El Paso Electric Company (NYSE:EE) Raised to “Hold” at Zacks Investment Research
El Paso Electric Company (NYSE:EE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
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 “
Other analysts have also issued research reports about the stock. BidaskClub lowered shares of El Paso Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Jefferies Group LLC restated a “hold” rating and set a $56.00 price target (up previously from $55.00) on shares of El Paso Electric in a research report on Friday. Five investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $52.67.
Shares of El Paso Electric (NYSE:EE) traded up 0.84% on Monday, reaching $53.90. 138,866 shares of the company traded hands. El Paso Electric has a 1-year low of $42.49 and a 1-year high of $55.45. The company has a 50-day moving average of $52.07 and a 200-day moving average of $50.65. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 19.47 and a beta of 0.48.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.14. The company had revenue of $251.84 million for the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same quarter in the prior year, the business posted $0.55 EPS. Analysts anticipate that El Paso Electric will post $2.54 earnings per share for the current fiscal year.
In other news, Director Charles Yamarone sold 3,500 shares of El Paso Electric stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total value of $183,645.00. Following the sale, the director now owns 10,000 shares in the company, valued at $524,700. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.33% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Neuburgh Advisers LLC raised its position in El Paso Electric by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock worth $104,000 after buying an additional 22 shares during the last quarter. Tyers Asset Management LLC raised its position in 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 worth $133,000 after buying an additional 28 shares during the last quarter. Flinton Capital Management LLC raised its position in El Paso Electric by 1.1% in the first quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock worth $161,000 after buying an additional 34 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in El Paso Electric during the first quarter worth $176,000. Finally, Shelton Capital Management acquired a new position in El Paso Electric during the second quarter worth $208,000. Hedge funds and other institutional investors own 96.36% of the company’s stock.
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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