El Paso Electric (NYSE:EE) Given Average Recommendation of “Hold” by Analysts

El Paso Electric (NYSE:EE) has been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $55.33.

Several brokerages recently issued reports on EE. Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a report on Tuesday, June 4th. ValuEngine upgraded El Paso Electric from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. TheStreet upgraded El Paso Electric from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. Mizuho increased their price target on El Paso Electric from $50.00 to $58.00 and gave the company a “neutral” rating in a report on Friday, March 29th. Finally, Williams Capital upgraded El Paso Electric from a “sell” rating to a “hold” rating and increased their price target for the company from $49.00 to $53.00 in a report on Monday, March 4th.

Large investors have recently bought and sold shares of the business. 6 Meridian lifted its position in shares of El Paso Electric by 22.8% during the first quarter. 6 Meridian now owns 13,582 shares of the utilities provider’s stock worth $799,000 after purchasing an additional 2,519 shares during the last quarter. First Trust Advisors LP lifted its position in shares of El Paso Electric by 6.5% during the first quarter. First Trust Advisors LP now owns 525,822 shares of the utilities provider’s stock worth $30,929,000 after purchasing an additional 32,187 shares during the last quarter. BlackRock Inc. lifted its position in shares of El Paso Electric by 3.3% during the fourth quarter. BlackRock Inc. now owns 6,178,968 shares of the utilities provider’s stock worth $309,753,000 after purchasing an additional 197,600 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of El Paso Electric by 7.4% during the fourth quarter. Nuveen Asset Management LLC now owns 520,758 shares of the utilities provider’s stock worth $26,106,000 after purchasing an additional 35,827 shares during the last quarter. Finally, Sageworth Trust Co lifted its position in shares of El Paso Electric by 30.8% during the first quarter. Sageworth Trust Co now owns 785 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 185 shares during the last quarter. 94.27% of the stock is owned by institutional investors.

Shares of EE stock traded up $0.14 on Friday, reaching $65.17. 11,226 shares of the stock were exchanged, compared to its average volume of 688,790. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 4.53 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.52 and a debt-to-equity ratio of 1.11. El Paso Electric has a 1-year low of $47.99 and a 1-year high of $66.83.

El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.29). The firm had revenue of $174.36 million for the quarter. El Paso Electric had a return on equity of 8.61% and a net margin of 10.79%. As a group, analysts expect that El Paso Electric will post 2.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.385 dividend. This is a boost from El Paso Electric’s previous quarterly dividend of $0.36. This represents a $1.54 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, June 13th. El Paso Electric’s dividend payout ratio is presently 61.80%.

About El Paso Electric

El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.

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