El Paso Electric Company (NYSE:EE) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

EE has been the subject of several other research reports. Bank of America Corporation started coverage on El Paso Electric in a research report on Tuesday, October 24th. They issued a “buy” rating and a $62.00 price objective for the company. Mizuho reiterated a “hold” rating and issued a $56.00 price objective on shares of El Paso Electric in a research report on Wednesday, October 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $57.00 price objective (up previously from $56.00) on shares of El Paso Electric in a research report on Friday, October 6th. Zacks Investment Research downgraded El Paso Electric from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Finally, BidaskClub upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $56.60.

Shares of El Paso Electric (NYSE:EE) traded down $0.25 on Friday, reaching $57.75. The company’s stock had a trading volume of 200,100 shares, compared to its average volume of 190,861. The company has a current ratio of 0.63, a quick ratio of 0.41 and a debt-to-equity ratio of 1.05. El Paso Electric has a 52-week low of $43.90 and a 52-week high of $58.70. The company has a market cap of $2,330.00, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 4.24 and a beta of 0.47.

El Paso Electric (NYSE:EE) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23). El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. The business had revenue of $297.47 million during the quarter, compared to the consensus estimate of $310.00 million. During the same quarter in the previous year, the firm posted $1.84 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. sell-side analysts forecast that El Paso Electric will post 2.55 EPS for the current fiscal year.

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Several hedge funds have recently added to or reduced their stakes in EE. Investment Counselors of Maryland LLC bought a new stake in shares of El Paso Electric during the third quarter worth $13,369,000. Lord Abbett & CO. LLC raised its position in shares of El Paso Electric by 160.3% during the second quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock worth $18,059,000 after acquiring an additional 215,109 shares during the last quarter. Vanguard Group Inc. raised its position in shares of El Paso Electric by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock worth $196,130,000 after acquiring an additional 170,235 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of El Paso Electric by 75.6% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 389,610 shares of the utilities provider’s stock worth $20,143,000 after acquiring an additional 167,682 shares during the last quarter. Finally, AHL Partners LLP raised its position in shares of El Paso Electric by 1,142.2% during the second quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock worth $8,861,000 after acquiring an additional 157,594 shares during the last quarter. Institutional investors own 97.36% 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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