El Paso Electric Company (NYSE:EE) announced its earnings results on Wednesday. The utilities provider reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.23), Briefing.com reports. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The business had revenue of $297.47 million during the quarter, compared to analysts’ expectations of $310.00 million. During the same period in the previous year, the company posted $1.84 earnings per share. El Paso Electric’s quarterly revenue was down 8.0% on a year-over-year basis.
Shares of El Paso Electric (NYSE EE) traded down 2.00% on Wednesday, hitting $56.35. 134,733 shares of the stock were exchanged. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 20.36 and a beta of 0.47. El Paso Electric has a one year low of $43.55 and a one year high of $58.70. The firm’s 50 day moving average price is $56.46 and its 200 day moving average price is $53.78.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.33%. El Paso Electric’s dividend payout ratio (DPR) is 48.38%.
A number of equities research analysts have recently commented on EE shares. Jefferies Group LLC cut shares of El Paso Electric from a “hold” rating to an “underperform” rating in a report on Monday, October 16th. ValuEngine cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Mizuho reaffirmed a “hold” rating and issued a $56.00 target price on shares of El Paso Electric in a report on Wednesday, October 4th. Finally, BidaskClub raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. El Paso Electric has a consensus rating of “Hold” and an average price target of $56.60.
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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