El Paso Electric Company (EE) Receives Consensus Rating of “Hold” from Brokerages
El Paso Electric Company (NYSE:EE) has been given a consensus recommendation of “Hold” by the six ratings firms that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $53.00.
Several equities research analysts have weighed in on EE shares. BidaskClub cut shares of El Paso Electric 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 from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Jefferies Group LLC reissued 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, August 11th. Finally, Mizuho started coverage on shares of El Paso Electric in a research report on Thursday. They set a “neutral” rating and a $55.00 price target for the company.
In other El Paso Electric news, Director Charles Yamarone sold 3,500 shares of the 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 completion of the sale, the director now owns 10,000 shares of the company’s stock, valued at approximately $524,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of El Paso Electric by 34,872.4% in the first quarter. BlackRock Inc. now owns 5,344,481 shares of the utilities provider’s stock valued at $269,896,000 after buying an additional 5,329,199 shares during the period. Vanguard Group Inc. raised its position in shares of El Paso Electric by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock valued at $196,130,000 after buying an additional 170,235 shares during the period. Dalton Greiner Hartman Maher & Co. raised its position in shares of El Paso Electric by 75.6% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 389,610 shares of the utilities provider’s stock valued at $20,143,000 after buying an additional 167,682 shares during the period. AHL Partners LLP raised its position in shares of El Paso Electric by 1,142.2% in the second quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock valued at $8,861,000 after buying an additional 157,594 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of El Paso Electric by 23.7% in the second quarter. Renaissance Technologies LLC now owns 709,337 shares of the utilities provider’s stock valued at $36,673,000 after buying an additional 135,837 shares during the period. Institutional investors and hedge funds own 96.36% of the company’s stock.
El Paso Electric (NYSE:EE) opened at 54.20 on Thursday. The company’s 50-day moving average is $52.19 and its 200-day moving average is $50.88. The company has a market cap of $2.20 billion, a P/E ratio of 19.58 and a beta of 0.48. 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 quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.14. The company had revenue of $251.84 million during the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same period last year, the company posted $0.55 EPS. On average, analysts anticipate that El Paso Electric will post $2.54 EPS for the current fiscal year.
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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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