Jefferies Group LLC cut shares of El Paso Electric Company (NYSE:EE) from a hold rating to an underperform rating in a research report sent to investors on Monday, Marketbeat reports. Jefferies Group also issued estimates for El Paso Electric’s Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $2.45 EPS, FY2018 earnings at $2.41 EPS, FY2019 earnings at $2.67 EPS and FY2020 earnings at $2.80 EPS.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised El Paso Electric from a hold rating to a buy rating and set a $61.00 price target for the company in a report on Tuesday, September 19th. ValuEngine raised El Paso Electric from a hold rating to a buy rating in a report on Thursday, September 7th. BidaskClub raised El Paso Electric from a hold rating to a buy rating in a report on Friday, August 18th. Finally, Mizuho reaffirmed a hold rating and issued a $56.00 price target on shares of El Paso Electric in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $55.50.

Shares of El Paso Electric (NYSE:EE) opened at 57.40 on Monday. The company has a market cap of $2.33 billion, a P/E ratio of 20.74 and a beta of 0.47. The company’s 50-day moving average price is $56.01 and its 200 day moving average price is $53.37. El Paso Electric has a 52 week low of $43.50 and a 52 week high of $58.70.

El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $251.84 million during the quarter. During the same period in the previous year, the company earned $0.55 EPS. Equities research analysts anticipate that El Paso Electric will post $2.54 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. boosted its position in shares of El Paso Electric by 39.1% during the first quarter. UBS Asset Management Americas Inc. now owns 23,267 shares of the utilities provider’s stock worth $1,175,000 after buying an additional 6,546 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of El Paso Electric during the first quarter worth $176,000. Stifel Financial Corp boosted its position in shares of El Paso Electric by 7.6% during the first quarter. Stifel Financial Corp now owns 7,018 shares of the utilities provider’s stock worth $357,000 after buying an additional 494 shares during the period. Arizona State Retirement System boosted its position in shares of El Paso Electric by 1.0% during the first quarter. Arizona State Retirement System now owns 21,101 shares of the utilities provider’s stock worth $1,066,000 after buying an additional 200 shares during the period. Finally, OppenheimerFunds Inc. boosted its position in shares of El Paso Electric by 19.6% during the first quarter. OppenheimerFunds Inc. now owns 20,370 shares of the utilities provider’s stock worth $1,028,000 after buying an additional 3,341 shares during the period. Institutional investors own 97.96% of the company’s stock.

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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