El Paso Electric (EE) Given Consensus Recommendation of “Hold” by Analysts
Shares of El Paso Electric (NYSE:EE) have received an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $58.00.
Several analysts have recently commented on EE shares. Bank of America initiated coverage on El Paso Electric in a research report on Tuesday, October 24th. They issued a “buy” rating and a $62.00 target price for the company. ValuEngine lowered El Paso Electric from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, December 25th. Mizuho reiterated a “hold” rating and set a $55.00 price objective on shares of El Paso Electric in a report on Friday, October 27th. Finally, Jefferies Group reiterated a “hold” rating and set a $57.00 price objective (up from $56.00) on shares of El Paso Electric in a report on Friday, October 6th.
Several large investors have recently made changes to their positions in EE. Quantbot Technologies LP purchased a new stake in shares of El Paso Electric during the third quarter worth $179,000. Sciencast Management LP purchased a new stake in shares of El Paso Electric during the second quarter worth $202,000. 1st Global Advisors Inc. purchased a new stake in shares of El Paso Electric during the second quarter worth $202,000. Shelton Capital Management purchased a new stake in shares of El Paso Electric during the second quarter worth $208,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of El Paso Electric during the second quarter worth $221,000. Institutional investors and hedge funds own 98.66% of the company’s stock.
El Paso Electric (NYSE:EE) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23). The business had revenue of $297.47 million during the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a return on equity of 8.44% and a net margin of 10.13%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period last year, the business earned $1.84 EPS. research analysts expect that El Paso Electric will post 2.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.335 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.34 annualized dividend and a dividend yield of 2.62%. El Paso Electric’s dividend payout ratio is 55.83%.
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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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