El Paso Electric Company (EE) Lowered to “Hold” at ValuEngine
El Paso Electric Company (NYSE:EE) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research cut El Paso Electric from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. BidaskClub upgraded El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Mizuho began coverage on El Paso Electric in a report on Thursday, August 17th. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 target price (up previously from $55.00) on shares of El Paso Electric in a report on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.00.
El Paso Electric (NYSE:EE) traded up 1.45% during trading on Monday, hitting $56.05. The stock had a trading volume of 269,273 shares. The company’s 50-day moving average is $55.01 and its 200 day moving average is $52.69. The firm has a market cap of $2.28 billion, a PE ratio of 20.25 and a beta of 0.47. El Paso Electric has a 52 week low of $42.49 and a 52 week high of $56.58.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.14. The company had revenue of $251.84 million during the quarter. El Paso Electric had a net margin of 14.32% and a return on equity of 13.41%. During the same quarter last year, the company earned $0.55 earnings per share. Equities analysts expect that El Paso Electric will post $2.59 EPS for the current fiscal year.
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Several large investors have recently bought and sold shares of EE. Wells Fargo & Company MN increased its holdings in shares of El Paso Electric by 5.4% during the 1st quarter. Wells Fargo & Company MN now owns 91,894 shares of the utilities provider’s stock worth $4,641,000 after purchasing an additional 4,714 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of El Paso Electric by 3.9% in the first quarter. Bank of New York Mellon Corp now owns 727,777 shares of the utilities provider’s stock valued at $36,752,000 after buying an additional 27,444 shares during the period. UBS Asset Management Americas Inc. lifted its stake in shares of El Paso Electric by 39.1% in the first quarter. UBS Asset Management Americas Inc. now owns 23,267 shares of the utilities provider’s stock valued at $1,175,000 after buying an additional 6,546 shares during the period. Karp Capital Management Corp bought a new stake in shares of El Paso Electric in the first quarter valued at about $1,127,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of El Paso Electric by 2.7% in the first quarter. Ameriprise Financial Inc. now owns 303,382 shares of the utilities provider’s stock valued at $15,320,000 after buying an additional 8,064 shares during the period. Institutional investors own 97.96% of the company’s stock.
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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