El Paso Electric Company (EE) Given $53.67 Consensus Target Price by Analysts

El Paso Electric Company (NYSE:EE) has earned a consensus broker rating score of 2.50 (Hold) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company.

Brokers have set a 1 year consensus target price of $53.67 for the company and are forecasting that the company will post $0.67 EPS for the current quarter, according to Zacks. Zacks has also assigned El Paso Electric an industry rank of 120 out of 265 based on the ratings given to its competitors.

A number of research firms recently weighed in on EE. Zacks Investment Research lowered shares of El Paso Electric from a “hold” rating to a “strong sell” rating in a report on Friday. BidaskClub downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Jefferies Group LLC lifted their price objective on shares of El Paso Electric from $48.50 to $52.00 and gave the company a “hold” rating in a research report on Thursday, May 4th.

In other news, Director Charles Yamarone sold 3,500 shares of El Paso Electric stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total value of $183,645.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $524,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.33% of the company’s stock.

Several hedge funds have recently bought and sold shares of EE. Dalton Greiner Hartman Maher & Co. boosted its stake in El Paso Electric by 75.6% in 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 during the period. Peregrine Capital Management LLC boosted its stake in El Paso Electric by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 186,965 shares of the utilities provider’s stock worth $9,666,000 after buying an additional 3,735 shares during the period. Aperio Group LLC boosted its stake in El Paso Electric by 17.0% in the second quarter. Aperio Group LLC now owns 26,121 shares of the utilities provider’s stock worth $1,350,000 after buying an additional 3,799 shares during the period. State of Alaska Department of Revenue boosted its stake in El Paso Electric by 78.7% in the second quarter. State of Alaska Department of Revenue now owns 8,004 shares of the utilities provider’s stock worth $413,000 after buying an additional 3,524 shares during the period. Finally, KAMES CAPITAL plc boosted its stake in El Paso Electric by 27.5% in the second quarter. KAMES CAPITAL plc now owns 20,168 shares of the utilities provider’s stock worth $1,042,000 after buying an additional 4,345 shares during the period. Institutional investors and hedge funds own 96.44% of the company’s stock.

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El Paso Electric (NYSE EE) traded down 1.51% during mid-day trading on Friday, reaching $52.20. 113,278 shares of the company traded hands. The stock has a 50-day moving average of $52.53 and a 200 day moving average of $49.97. The stock has a market capitalization of $2.12 billion, a PE ratio of 21.49 and a beta of 0.49. El Paso Electric has a 52-week low of $42.49 and a 52-week high of $55.45.

El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.05. The firm had revenue of $171.34 million for the quarter. El Paso Electric had a net margin of 10.95% and a return on equity of 9.34%. During the same period last year, the firm posted ($0.14) earnings per share. Equities research analysts expect that El Paso Electric will post $2.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a $0.335 dividend. This is an increase from El Paso Electric’s previous quarterly dividend of $0.31. This represents a $1.34 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Wednesday, June 14th. El Paso Electric’s dividend payout ratio (DPR) is 55.14%.

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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