El Paso Electric (NYSE:EE) declared a quarterly dividend on Thursday, January 31st, RTT News reports. Stockholders of record on Friday, March 15th will be paid a dividend of 0.36 per share by the utilities provider on Friday, March 29th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.74%.
El Paso Electric has raised its dividend payment by an average of 6.7% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. El Paso Electric has a payout ratio of 59.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect El Paso Electric to earn $2.36 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 61.0%.
Shares of El Paso Electric stock traded up $1.28 on Thursday, reaching $52.52. 385,200 shares of the company were exchanged, compared to its average volume of 278,748. El Paso Electric has a 1-year low of $47.99 and a 1-year high of $64.35. The company has a market cap of $2.09 billion, a PE ratio of 21.70, a P/E/G ratio of 4.92 and a beta of 0.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.72 and a current ratio of 0.98.
A number of equities analysts recently issued reports on the company. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, December 24th. ValuEngine downgraded El Paso Electric from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.00.
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El Paso Electric Company Profile
El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.
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