El Paso Electric Company (EE) Expected to Earn FY2018 Earnings of $2.80 Per Share
El Paso Electric Company (NYSE:EE) – Research analysts at Jefferies Group boosted their FY2018 EPS estimates for shares of El Paso Electric in a research report issued on Friday. Jefferies Group analyst A. Crowdell now expects that the utilities provider will earn $2.80 per share for the year, up from their previous forecast of $2.65. Jefferies Group has a “Hold” rating and a $56.00 price objective on the stock. Jefferies Group also issued estimates for El Paso Electric’s FY2019 earnings at $2.99 EPS.
El Paso Electric (NYSE:EE) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.14. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. The company had revenue of $251.84 million during the quarter. During the same quarter last year, the firm posted $0.55 EPS. TRADEMARK VIOLATION NOTICE: “El Paso Electric Company (EE) Expected to Earn FY2018 Earnings of $2.80 Per Share” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/15/el-paso-electric-company-ee-expected-to-earn-fy2018-earnings-of-2-80-per-share.html.
Other equities research analysts have also recently issued reports about the company. BidaskClub cut El Paso Electric from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. Zacks Investment Research cut El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, May 8th. Five analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $52.67.
Shares of El Paso Electric (EE) traded down 0.19% on Monday, reaching $53.80. The company’s stock had a trading volume of 69,360 shares. El Paso Electric has a 52 week low of $42.49 and a 52 week high of $55.45. The stock has a 50-day moving average of $52.10 and a 200 day moving average of $50.79. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.44 and a beta of 0.48.
In related news, Director Charles Yamarone sold 3,500 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $52.47, for a total transaction of $183,645.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $524,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.33% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Neuburgh Advisers LLC boosted its stake in El Paso Electric by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 2,068 shares of the utilities provider’s stock worth $104,000 after buying an additional 22 shares in the last quarter. Tyers Asset Management LLC boosted its stake in El Paso Electric by 1.1% in the first quarter. Tyers Asset Management LLC now owns 2,632 shares of the utilities provider’s stock worth $133,000 after buying an additional 28 shares in the last quarter. Flinton Capital Management LLC boosted its stake in El Paso Electric by 1.1% in the first quarter. Flinton Capital Management LLC now owns 3,196 shares of the utilities provider’s stock worth $161,000 after buying an additional 34 shares in the last quarter. Amalgamated Bank boosted its stake in El Paso Electric by 1.0% in the second quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock worth $286,000 after buying an additional 55 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in El Paso Electric by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,480 shares of the utilities provider’s stock worth $226,000 after buying an additional 90 shares in the last quarter. 96.36% of the stock is owned by hedge funds and other institutional investors.
El Paso Electric Company Profile
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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