El Paso Electric (EE) Raised to “Hold” at Williams Capital

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Williams Capital upgraded shares of El Paso Electric (NYSE:EE) from a sell rating to a hold rating in a research note released on Monday morning, Marketbeat reports. The firm currently has $53.00 price objective on the utilities provider’s stock, up from their previous price objective of $49.00.

Several other research analysts have also recently issued reports on EE. Zacks Investment Research cut El Paso Electric from a hold rating to a sell rating in a research report on Monday, December 24th. Bank of America reiterated a neutral rating and issued a $55.00 price objective (up previously from $49.00) on shares of El Paso Electric in a research report on Friday, March 1st. Finally, TheStreet cut El Paso Electric from a b rating to a c+ rating in a research report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $58.00.

El Paso Electric stock opened at $57.48 on Monday. El Paso Electric has a 12 month low of $47.99 and a 12 month high of $64.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.98 and a quick ratio of 0.72. The company has a market cap of $2.35 billion, a PE ratio of 24.67, a P/E/G ratio of 5.31 and a beta of 0.45.

El Paso Electric (NYSE:EE) last released its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.18. El Paso Electric had a return on equity of 9.19% and a net margin of 11.67%. As a group, sell-side analysts anticipate that El Paso Electric will post 2.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.51%. The ex-dividend date is Thursday, March 14th. El Paso Electric’s payout ratio is 61.80%.

A number of large investors have recently added to or reduced their stakes in EE. Norges Bank purchased a new position in El Paso Electric in the fourth quarter worth $27,215,000. D. E. Shaw & Co. Inc. raised its position in El Paso Electric by 752.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 268,110 shares of the utilities provider’s stock worth $13,440,000 after acquiring an additional 236,658 shares in the last quarter. FMR LLC grew its holdings in El Paso Electric by 11.8% in the second quarter. FMR LLC now owns 2,005,343 shares of the utilities provider’s stock valued at $118,516,000 after purchasing an additional 211,071 shares during the last quarter. BlackRock Inc. grew its holdings in El Paso Electric by 3.3% in the fourth quarter. BlackRock Inc. now owns 6,178,968 shares of the utilities provider’s stock valued at $309,753,000 after purchasing an additional 197,600 shares during the last quarter. Finally, Morgan Stanley grew its holdings in El Paso Electric by 134.7% in the third quarter. Morgan Stanley now owns 307,105 shares of the utilities provider’s stock valued at $17,566,000 after purchasing an additional 176,274 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

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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