According to Zacks, “El Paso Electric Co is a public utility engaged in the generation, transmission & distribution of electricity in an area of west Texas & southern New Mexico. El Paso also serves wholesale customers in Texas, New Mexico, California & Mexico. El Paso owns or has significant ownership interests in five electrical generating facilities providing it with a total capacity of approximately 1,500 MW. El Paso serves residential, commercial, industrial & wholesale customers. El Paso distributes electricity to retail customers principally in El Paso, Texas & the City of Las Cruces, New Mexico “
Several other brokerages have also issued reports on EE. Jefferies Group reiterated a buy rating and issued a $52.50 price target on shares of El Paso Electric in a research note on Friday, September 23rd. Argus reiterated a hold rating on shares of El Paso Electric in a research note on Wednesday, October 5th.
Shares of El Paso Electric (NYSE:EE) opened at 42.84 on Tuesday. El Paso Electric has a one year low of $35.32 and a one year high of $48.75. The stock’s 50 day moving average price is $45.85 and its 200 day moving average price is $45.82. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 23.46 and a beta of 0.33.
El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by $0.25. El Paso Electric had a return on equity of 7.30% and a net margin of 8.77%. The company had revenue of $217.87 million for the quarter, compared to the consensus estimate of $219.50 million. During the same quarter last year, the business earned $0.52 EPS. Analysts expect that El Paso Electric will post $2.38 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Wednesday, September 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, September 12th. This represents a $1.24 dividend on an annualized basis and a yield of 2.91%. El Paso Electric’s dividend payout ratio is currently 67.76%.
Large investors have recently modified their holdings of the company. Neuberger Berman Group LLC purchased a new stake in shares of El Paso Electric during the second quarter worth $200,000. Paloma Partners Management Co purchased a new stake in shares of El Paso Electric during the second quarter worth $215,000. Amalgamated Bank bought a new position in shares of El Paso Electric during the second quarter valued at approximately $226,000. PineBridge Investments L.P. increased its position in shares of El Paso Electric by 3.8% in the second quarter. PineBridge Investments L.P. now owns 5,134 shares of the company’s stock valued at $243,000 after buying an additional 188 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of El Paso Electric by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,663 shares of the company’s stock valued at $268,000 after buying an additional 684 shares during the last quarter. Institutional investors and hedge funds 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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