El Paso Electric Co. (NYSE:EE) has been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. El Paso Electric’s rating score has improved by 28.3% from three months ago as a result of various analysts’ ratings changes.
Brokers have set a 1-year consensus price target of $52.25 for the company and are anticipating that the company will post $1.90 earnings per share for the current quarter, according to Zacks. Zacks has also assigned El Paso Electric an industry rank of 158 out of 265 based on the ratings given to related companies.
EE has been the topic of several research reports. Jefferies Group restated a “buy” rating and set a $52.50 price objective on shares of El Paso Electric in a report on Friday. Zacks Investment Research lowered shares of El Paso Electric from a “hold” rating to a “sell” rating in a research report on Tuesday, June 14th.
Shares of El Paso Electric (NYSE:EE) opened at 48.43 on Wednesday. The firm has a 50 day moving average of $46.13 and a 200 day moving average of $45.63. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 26.52 and a beta of 0.40. El Paso Electric has a 52 week low of $35.32 and a 52 week high of $48.67.
El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by $0.25. El Paso Electric had a return on equity of 7.30% and a net margin of 8.77%. The company had revenue of $217.87 million for the quarter, compared to the consensus estimate of $219.50 million. During the same quarter in the previous year, the firm posted $0.52 EPS. Equities analysts predict that El Paso Electric will post $2.40 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, September 12th. This represents a $1.24 annualized dividend and a dividend yield of 2.56%. El Paso Electric’s dividend payout ratio (DPR) is currently 67.76%.
A number of institutional investors have recently added to or reduced their stakes in EE. Norges Bank purchased a new position in El Paso Electric during the fourth quarter worth approximately $17,900,000. Dalton Greiner Hartman Maher & Co. raised its position in El Paso Electric by 12.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 10,742 shares of the company’s stock worth $372,000 after buying an additional 1,156 shares during the period. Aperio Group LLC raised its position in El Paso Electric by 19.7% in the first quarter. Aperio Group LLC now owns 26,907 shares of the company’s stock worth $1,234,000 after buying an additional 4,433 shares during the period. Virginia Retirement System purchased a new position in El Paso Electric during the first quarter worth approximately $863,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in El Paso Electric during the first quarter worth approximately $555,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.
About El Paso Electric
El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.
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