El Paso Electric (EE) Lifted to Hold at Zacks Investment Research

El Paso Electric (NYSE:EE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal facilities, as well as solar photovoltaic panels and wind turbines. The company owns or has ownership interests in various electrical generating facilities with a net dependable generating capability of approximately 2,080 megawatts; four 345 kilovolt (kV) transmission lines in New Mexico and Arizona; and three 500 kV lines in Arizona. It distributes electricity to retail customers principally in El Paso, Texas; and Las Cruces, New Mexico. The company serves approximately 411,100 residential, commercial, industrial, public authority, and wholesale customers. “

Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Bank of America initiated coverage on shares of El Paso Electric in a research note on Tuesday, October 24th. They set a “buy” rating and a $62.00 price objective on the stock. Jefferies Group restated a “hold” rating and set a $57.00 price objective (up from $56.00) on shares of El Paso Electric in a research note on Friday, October 6th. Finally, Mizuho restated a “hold” rating and set a $56.00 price objective on shares of El Paso Electric in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $58.50.

Shares of El Paso Electric (EE) traded up $0.10 on Tuesday, hitting $51.75. 207,867 shares of the stock traded hands, compared to its average volume of 275,760. El Paso Electric has a 52 week low of $44.70 and a 52 week high of $61.15. The firm has a market capitalization of $2,096.57, a P/E ratio of 21.56, a price-to-earnings-growth ratio of 3.65 and a beta of 0.48. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 1.05.

El Paso Electric (NYSE:EE) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $297.47 million for the quarter, compared to analyst estimates of $310.00 million. During the same period last year, the firm posted $1.84 EPS. The business’s revenue was down 8.0% compared to the same quarter last year. equities analysts expect that El Paso Electric will post 2.51 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in El Paso Electric in the 3rd quarter worth about $179,000. Sciencast Management LP purchased a new position in El Paso Electric in the 2nd quarter worth about $202,000. 1st Global Advisors Inc. purchased a new position in El Paso Electric in the 2nd quarter worth about $202,000. Shelton Capital Management purchased a new position in El Paso Electric in the 2nd quarter worth about $208,000. Finally, Neuberger Berman Group LLC purchased a new position in El Paso Electric in the 2nd quarter worth about $221,000. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

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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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