El Paso Electric (NYSE:EE) Raised to Buy at ValuEngine

ValuEngine upgraded shares of El Paso Electric (NYSE:EE) from a hold rating to a buy rating in a research report sent to investors on Friday, November 10th.

Several other brokerages have also issued reports on EE. Jefferies Group lowered shares of El Paso Electric from a hold rating to an underperform rating in a research note on Monday, October 16th. Zacks Investment Research downgraded shares of El Paso Electric from a buy rating to a hold rating in a research report on Thursday, September 21st. Mizuho restated a hold rating and set a $56.00 target price on shares of El Paso Electric in a report on Wednesday, October 4th. BidaskClub upgraded shares of El Paso Electric from a hold rating to a buy rating in a report on Friday, August 18th. Finally, Bank of America began coverage on shares of El Paso Electric in a report on Tuesday, October 24th. They set a buy rating and a $62.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $56.60.

El Paso Electric (NYSE EE) traded down $0.05 during trading hours on Friday, reaching $60.55. 289,400 shares of the company traded hands, compared to its average volume of 193,573. The firm has a market cap of $2,440.00, a PE ratio of 24.85, a P/E/G ratio of 4.59 and a beta of 0.47. El Paso Electric has a 1 year low of $44.55 and a 1 year high of $60.80. 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 data on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $297.47 million during the quarter, compared to analyst estimates of $310.00 million. During the same quarter in the prior year, the company posted $1.84 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. research analysts forecast that El Paso Electric will post 2.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.335 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.34 annualized dividend and a dividend yield of 2.21%. El Paso Electric’s dividend payout ratio is presently 56.07%.

Several large investors have recently added to or reduced their stakes in EE. Investment Counselors of Maryland LLC bought a new position in El Paso Electric during the third quarter worth $13,369,000. Lord Abbett & CO. LLC boosted its position in El Paso Electric by 160.3% during the second quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock worth $18,059,000 after purchasing an additional 215,109 shares during the period. Vanguard Group Inc. boosted its position in El Paso Electric by 4.6% during the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock worth $196,130,000 after purchasing an additional 170,235 shares during the period. Dalton Greiner Hartman Maher & Co. lifted its holdings in shares of El Paso Electric by 75.6% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 389,610 shares of the utilities provider’s stock worth $20,143,000 after buying an additional 167,682 shares in the last quarter. Finally, AHL Partners LLP lifted its holdings in shares of El Paso Electric by 1,142.2% during the second quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock worth $8,861,000 after buying an additional 157,594 shares in the last quarter. 98.83% of the stock is owned by institutional investors and hedge funds.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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