El Paso Electric Co. (NYSE:EE) issued an update on its FY16 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.20-2.50 for the period, compared to the Thomson Reuters consensus estimate of $2.40.
El Paso Electric Co. (NYSE:EE) traded down 0.57% during midday trading on Thursday, hitting $47.30. The stock had a trading volume of 78,412 shares. The company has a 50-day moving average price of $46.23 and a 200-day moving average price of $45.76. El Paso Electric Co. has a 12-month low of $35.32 and a 12-month high of $48.75. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 25.90 and a beta of 0.40.
El Paso Electric (NYSE:EE) last announced its earnings results on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.80 by $0.25. The company had revenue of $217.87 million for the quarter, compared to analysts’ expectations of $219.50 million. El Paso Electric had a net margin of 8.77% and a return on equity of 7.30%. During the same quarter in the previous year, the business posted $0.52 earnings per share. Equities analysts anticipate that El Paso Electric Co. will post $2.40 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, September 14th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, September 12th. This represents a $1.24 annualized dividend and a dividend yield of 2.61%. El Paso Electric’s payout ratio is currently 67.76%.
Several brokerages recently commented on EE. Jefferies Group reiterated a buy rating and set a $52.50 target price on shares of El Paso Electric in a report on Friday, September 23rd. Zacks Investment Research downgraded El Paso Electric from a hold rating to a sell rating in a report on Tuesday, June 14th.
A number of large investors have recently bought and sold shares of the company. BlackRock Fund Advisors raised its position in shares of El Paso Electric by 3.7% in the second quarter. BlackRock Fund Advisors now owns 2,733,740 shares of the company’s stock valued at $129,224,000 after buying an additional 98,020 shares during the last quarter. US Bancorp DE raised its position in shares of El Paso Electric by 8.1% in the second quarter. US Bancorp DE now owns 19,730 shares of the company’s stock valued at $933,000 after buying an additional 1,482 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of El Paso Electric during the second quarter valued at approximately $652,000. Alliancebernstein L.P. raised its position in shares of El Paso Electric by 19.5% in the second quarter. Alliancebernstein L.P. now owns 58,143 shares of the company’s stock valued at $2,748,000 after buying an additional 9,500 shares during the last quarter. Finally, Analytic Investors LLC raised its position in shares of El Paso Electric by 47.0% in the second quarter. Analytic Investors LLC now owns 49,819 shares of the company’s stock valued at $2,355,000 after buying an additional 15,934 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.
El Paso Electric Company Profile
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.
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