El Paso Electric Co. (EE) to Issue Quarterly Dividend of $0.31
El Paso Electric Co. (NYSE:EE) declared a quarterly dividend on Thursday, November 17th. Shareholders of record on Wednesday, December 14th will be paid a dividend of 0.31 per share on Friday, December 30th. This represents a $1.24 dividend on an annualized basis and a yield of 2.81%.
El Paso Electric (NYSE:EE) opened at 44.20 on Friday. The firm has a market capitalization of $1.79 billion, a PE ratio of 19.48 and a beta of 0.41. El Paso Electric has a 12 month low of $35.32 and a 12 month high of $48.75. The firm’s 50-day moving average is $44.75 and its 200-day moving average is $45.74.
El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $1.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.90 by $0.06. The company had revenue of $323.23 million for the quarter, compared to analyst estimates of $289.71 million. El Paso Electric had a return on equity of 8.95% and a net margin of 10.48%. During the same quarter in the previous year, the firm posted $1.40 EPS. On average, equities research analysts expect that El Paso Electric will post $2.33 EPS for the current year.
EE has been the topic of several recent analyst reports. Jefferies Group downgraded El Paso Electric from a “buy” rating to a “hold” rating and cut their price objective for the stock from $50.00 to $46.50 in a report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a report on Tuesday, October 11th. Finally, Argus restated a “hold” rating on shares of El Paso Electric in a report on Wednesday, October 5th.
Several institutional investors have recently modified their holdings of the stock. Paloma Partners Management Co acquired a new position in shares of El Paso Electric during the second quarter worth $215,000. ProShare Advisors LLC increased its position in shares of El Paso Electric by 1.4% in the second quarter. ProShare Advisors LLC now owns 6,615 shares of the company’s stock worth $313,000 after buying an additional 89 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of El Paso Electric during the second quarter worth $317,000. AHL Partners LLP acquired a new position in shares of El Paso Electric during the second quarter worth $619,000. Finally, Trexquant Investment LP acquired a new position in shares of El Paso Electric during the second quarter worth $652,000. Institutional investors own 97.65% of the company’s stock.
About El Paso Electric
El Paso Electric Company is 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. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of over 2,055 Megawatts.
Receive News & Stock Ratings for El Paso Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric Co. and related stocks with our FREE daily email newsletter.