El Paso Electric Company (EE) Announces Quarterly Earnings Results
El Paso Electric Company (NYSE:EE) issued its quarterly earnings results on Wednesday. The utilities provider reported $1.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23), Briefing.com reports. The business had revenue of $297.47 million during the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 earnings per share.
Shares of El Paso Electric (NYSE EE) traded down 2.478% on Wednesday, reaching $56.075. The company’s stock had a trading volume of 88,129 shares. The stock has a market capitalization of $2.28 billion, a PE ratio of 20.258 and a beta of 0.47. El Paso Electric has a 1-year low of $43.55 and a 1-year high of $58.70. The stock has a 50-day moving average of $56.46 and a 200 day moving average of $53.78.
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 issued a $0.335 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.34 annualized dividend and a yield of 2.33%. El Paso Electric’s dividend payout ratio (DPR) is presently 48.38%.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday, September 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $56.00 price target (up from $55.00) on shares of El Paso Electric in a report on Friday, August 11th. Bank of America Corporation assumed coverage on El Paso Electric in a report on Tuesday, October 24th. They issued a “buy” rating and a $62.00 price target for the company. Mizuho reiterated a “hold” rating and issued a $55.00 price target on shares of El Paso Electric in a report on Friday, October 27th. Finally, BidaskClub upgraded El Paso Electric from a “hold” rating to a “buy” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.60.
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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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