El Paso Electric Company (EE) Receives Consensus Rating of “Hold” from Brokerages
El Paso Electric Company (NYSE:EE) has been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $53.00.
Several brokerages have commented on EE. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday. BidaskClub upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Mizuho began coverage on shares of El Paso Electric in a research note on Thursday, August 17th. They set a “neutral” rating and a $55.00 price objective for the company. Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Jefferies Group LLC restated a “hold” rating and set a $56.00 price objective (up from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th.
In related news, Director Charles Yamarone sold 3,500 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were 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 in the company, valued at approximately $524,700. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.33% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC lifted its stake in shares of El Paso Electric by 160.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock valued at $18,059,000 after purchasing an additional 215,109 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of El Paso Electric by 1.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 90 shares during the period. 1st Global Advisors Inc. acquired a new position in shares of El Paso Electric in the 2nd quarter valued at $202,000. Piedmont Investment Advisors LLC acquired a new position in shares of El Paso Electric in the 2nd quarter valued at $456,000. Finally, Susquehanna International Group LLP acquired a new position in shares of El Paso Electric in the 2nd quarter valued at $750,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.
Shares of El Paso Electric (NYSE:EE) opened at 55.95 on Monday. The stock has a market capitalization of $2.27 billion, a PE ratio of 20.21 and a beta of 0.48. The firm’s 50-day moving average is $53.91 and its 200-day moving average is $51.86. El Paso Electric has a one year low of $42.49 and a one year high of $55.95.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The business had revenue of $251.84 million during the quarter. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, analysts expect that El Paso Electric will post $2.57 earnings per share for the current fiscal year.
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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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