Zacks Investment Research downgraded shares of El Paso Electric (NYSE:EE) from a hold rating to a sell rating in a report released on Monday.
According to Zacks, “El Paso Electric Company is a regional electric utility providing generation, transmission and distribution service to the retail and wholesale customers of the Rio Grande valley in west Texas and southern New Mexico. El Paso Electric is one of the largest employers in the City of El Paso. “
Separately, ValuEngine cut El Paso Electric from a buy rating to a hold rating in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. El Paso Electric presently has a consensus rating of Hold and an average price target of $56.00.
NYSE:EE traded up $0.53 during trading hours on Monday, hitting $49.88. The company’s stock had a trading volume of 2,188 shares, compared to its average volume of 276,275. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 3.95 and a beta of 0.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.72 and a current ratio of 0.98. El Paso Electric has a 52-week low of $48.05 and a 52-week high of $64.35.
El Paso Electric (NYSE:EE) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.12. The firm had revenue of $300.27 million during the quarter. El Paso Electric had a return on equity of 9.19% and a net margin of 11.67%. On average, analysts predict that El Paso Electric will post 2.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, December 13th. El Paso Electric’s payout ratio is currently 59.50%.
Several institutional investors and hedge funds have recently bought and sold shares of EE. Teachers Advisors LLC raised its holdings in shares of El Paso Electric by 0.5% during the 3rd quarter. Teachers Advisors LLC now owns 86,380 shares of the utilities provider’s stock valued at $4,941,000 after buying an additional 446 shares during the period. Meadow Creek Investment Management LLC raised its holdings in shares of El Paso Electric by 25.7% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 4,768 shares of the utilities provider’s stock valued at $282,000 after buying an additional 976 shares during the period. Flinton Capital Management LLC raised its holdings in shares of El Paso Electric by 11.2% during the 2nd quarter. Flinton Capital Management LLC now owns 10,132 shares of the utilities provider’s stock valued at $599,000 after buying an additional 1,020 shares during the period. AMP Capital Investors Ltd raised its holdings in shares of El Paso Electric by 6.4% during the 3rd quarter. AMP Capital Investors Ltd now owns 18,190 shares of the utilities provider’s stock valued at $1,038,000 after buying an additional 1,100 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of El Paso Electric by 12.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,714 shares of the utilities provider’s stock valued at $556,000 after buying an additional 1,112 shares during the period. 97.58% of the stock is currently owned by institutional investors and hedge funds.
About El Paso Electric
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, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.
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