El Paso Electric Company (NYSE:EE) has been given a consensus rating of “Hold” by the six ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $53.67.
A number of research firms have recently issued reports on EE. Jefferies Group LLC reiterated a “hold” rating and issued a $57.00 price objective (up from $56.00) on shares of El Paso Electric in a report on Friday. Mizuho reiterated a “hold” rating and issued a $56.00 price objective on shares of El Paso Electric in a report on Wednesday, October 4th. ValuEngine downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Finally, BidaskClub upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a report on Friday, August 18th.
Several large investors have recently added to or reduced their stakes in EE. Ameritas Investment Partners Inc. bought a new position in El Paso Electric during the first quarter worth $176,000. 1st Global Advisors Inc. bought a new position in El Paso Electric during the second quarter worth $202,000. Sciencast Management LP bought a new position in El Paso Electric during the second quarter worth $202,000. Shelton Capital Management bought a new position in El Paso Electric during the second quarter worth $208,000. Finally, Neuberger Berman Group LLC bought a new position in El Paso Electric during the second quarter worth $221,000. 97.96% of the stock is owned by institutional investors and hedge funds.
El Paso Electric (NYSE:EE) traded up 0.396% during midday trading on Friday, hitting $57.075. 69,307 shares of the stock were exchanged. The company has a 50 day moving average price of $55.33 and a 200 day moving average price of $52.86. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 20.620 and a beta of 0.47. El Paso Electric has a one year low of $42.49 and a one year high of $57.30.
El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.75 by $0.14. The firm had revenue of $251.84 million for the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same quarter last year, the business posted $0.55 earnings per share. Equities analysts anticipate that El Paso Electric will post $2.58 EPS for the current year.
About El Paso Electric
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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