El Paso Electric Company (NYSE:EE) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.

Several other brokerages also recently commented on EE. Mizuho assumed coverage on shares of El Paso Electric in a research note on Thursday, August 17th. They issued a “neutral” rating and a $55.00 target price for the company. Zacks Investment Research raised shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 target price (up previously from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th. Finally, BidaskClub raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.25.

Shares of El Paso Electric (NYSE EE) traded up 0.82% during mid-day trading on Thursday, reaching $55.50. 185,921 shares of the company were exchanged. The stock has a market capitalization of $2.25 billion, a P/E ratio of 20.05 and a beta of 0.48. The firm has a 50-day moving average price of $53.83 and a 200 day moving average price of $51.83. El Paso Electric has a 12 month low of $42.49 and a 12 month high of $55.85.

El Paso Electric (NYSE:EE) last issued its 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. El Paso Electric had a net margin of 14.32% and a return on equity of 13.41%. The firm had revenue of $251.84 million during the quarter. During the same period in the previous year, the company posted $0.55 EPS. Equities research analysts anticipate that El Paso Electric will post $2.57 EPS for the current fiscal year.

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In related 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 transaction, the director now owns 10,000 shares in the company, valued at $524,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.33% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stifel Financial Corp boosted its holdings in El Paso Electric by 7.6% during the first quarter. Stifel Financial Corp now owns 7,018 shares of the utilities provider’s stock worth $357,000 after purchasing an additional 494 shares during the last quarter. Arizona State Retirement System boosted its holdings in El Paso Electric by 0.5% during the second quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock worth $1,096,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in El Paso Electric by 11.9% during the first quarter. PNC Financial Services Group Inc. now owns 10,152 shares of the utilities provider’s stock worth $512,000 after purchasing an additional 1,082 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in El Paso Electric by 3.4% during the first quarter. Nationwide Fund Advisors now owns 77,165 shares of the utilities provider’s stock worth $3,897,000 after purchasing an additional 2,515 shares during the last quarter. Finally, Martingale Asset Management L P boosted its holdings in El Paso Electric by 2,605.0% during the first quarter. Martingale Asset Management L P now owns 127,218 shares of the utilities provider’s stock worth $6,425,000 after purchasing an additional 122,515 shares during the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.

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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