El Paso Electric Company (NYSE:EE) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $55.00.

Several equities analysts have commented on EE shares. Zacks Investment Research upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, September 19th. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. BidaskClub upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Bank of America Corporation started coverage on shares of El Paso Electric in a research note on Tuesday, October 24th. They issued a “buy” rating and a $62.00 price target for the company. Finally, Jefferies Group LLC restated a “hold” rating and issued a $56.00 price target (up previously from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th.

Several hedge funds have recently modified their holdings of EE. UBS Asset Management Americas Inc. grew its stake in shares of El Paso Electric by 39.1% during the first quarter. UBS Asset Management Americas Inc. now owns 23,267 shares of the utilities provider’s stock worth $1,175,000 after purchasing an additional 6,546 shares in the last quarter. Stifel Financial Corp grew its stake in shares of 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 in the last quarter. OppenheimerFunds Inc. grew its stake in shares of El Paso Electric by 19.6% during the first quarter. OppenheimerFunds Inc. now owns 20,370 shares of the utilities provider’s stock worth $1,028,000 after purchasing an additional 3,341 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of El Paso Electric by 3.2% during the first quarter. Teachers Advisors LLC now owns 69,012 shares of the utilities provider’s stock worth $3,485,000 after purchasing an additional 2,145 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of El Paso Electric by 9.5% during the first quarter. TIAA CREF Investment Management LLC now owns 194,348 shares of the utilities provider’s stock worth $9,815,000 after purchasing an additional 16,844 shares in the last quarter. Hedge funds and other institutional investors own 98.17% of the company’s stock.

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Shares of El Paso Electric (NYSE:EE) opened at 58.00 on Tuesday. The firm’s 50-day moving average price is $56.43 and its 200 day moving average price is $53.75. El Paso Electric has a 12 month low of $43.55 and a 12 month high of $58.70. The company has a market cap of $2.35 billion, a PE ratio of 20.95 and a beta of 0.47.

El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.14. The company had revenue of $251.84 million for the quarter. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. During the same period in the previous year, the firm earned $0.55 EPS. Equities research analysts anticipate that El Paso Electric will post $2.55 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.335 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.34 annualized dividend and a dividend yield of 2.31%. El Paso Electric’s dividend payout ratio (DPR) is 48.38%.

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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