Mizuho Reaffirms Hold Rating for El Paso Electric (EE)

El Paso Electric (NYSE:EE)‘s stock had its “hold” rating restated by analysts at Mizuho in a research report issued to clients and investors on Wednesday. They currently have a $54.00 target price on the utilities provider’s stock. Mizuho’s price objective suggests a potential upside of 1.31% from the company’s current price.

Other analysts have also issued reports about the company. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Zacks Investment Research raised El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a report on Tuesday, September 19th. Jefferies Group lowered El Paso Electric from a “hold” rating to an “underperform” rating in a report on Monday, October 16th. Finally, Bank of America lowered El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 price objective on the stock. in a report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. El Paso Electric has an average rating of “Hold” and a consensus target price of $56.40.

Shares of El Paso Electric (EE) opened at $53.30 on Wednesday. The company has a market capitalization of $2,230.00, a PE ratio of 22.30, a P/E/G ratio of 3.94 and a beta of 0.48. El Paso Electric has a 1-year low of $44.70 and a 1-year high of $61.15. 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 posted its earnings results on Wednesday, November 1st. The utilities provider reported $1.47 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.23). The company had revenue of $297.47 million for the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a return on equity of 8.44% and a net margin of 10.13%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the business earned $1.84 earnings per share. analysts predict that El Paso Electric will post 2.51 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Investment Counselors of Maryland LLC purchased a new position in shares of El Paso Electric in the third quarter valued at approximately $13,369,000. Lord Abbett & CO. LLC lifted its position in shares of El Paso Electric by 160.3% in the second quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock valued at $18,059,000 after acquiring an additional 215,109 shares in the last quarter. AHL Partners LLP lifted its position in shares of El Paso Electric by 1,142.2% in the second quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock valued at $8,861,000 after acquiring an additional 157,594 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of El Paso Electric by 23.7% in the second quarter. Renaissance Technologies LLC now owns 709,337 shares of the utilities provider’s stock valued at $36,673,000 after acquiring an additional 135,837 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of El Paso Electric by 8.3% in the second quarter. Macquarie Group Ltd. now owns 1,068,245 shares of the utilities provider’s stock valued at $55,228,000 after acquiring an additional 81,990 shares in the last quarter. 98.66% of the stock is currently owned by institutional investors.

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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).

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