El Paso Electric (EE) Receives “Hold” Rating from Mizuho

Mizuho reiterated their hold rating on shares of El Paso Electric (NYSE:EE) in a research report released on Wednesday morning. Mizuho currently has a $54.00 price target on the utilities provider’s stock.

Other analysts have also recently issued reports about the company. ValuEngine raised El Paso Electric from a hold rating to a buy rating in a report on Friday, November 10th. 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. Jefferies Group cut El Paso Electric from a hold rating to an underperform rating in a report on Monday, October 16th. Finally, Bank of America cut El Paso Electric from a buy rating to a neutral rating and set a $62.00 price target for the company. in a report on Wednesday, November 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $58.50.

El Paso Electric (EE) traded down $0.45 on Wednesday, hitting $51.05. The stock had a trading volume of 205,985 shares, compared to its average volume of 255,748. El Paso Electric has a 52 week low of $44.70 and a 52 week high of $61.15. The firm has a market capitalization of $2,070.00, a PE ratio of 21.36, a price-to-earnings-growth ratio of 3.71 and a beta of 0.48. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.47 and a current ratio of 0.63.

El Paso Electric (NYSE:EE) last released its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.23). The business had revenue of $297.47 million during the quarter, compared to analyst estimates of $310.00 million. El Paso Electric had a net margin of 10.13% and a return on equity of 8.44%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 earnings per share. analysts forecast that El Paso Electric will post 2.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.34 annualized dividend and a yield of 2.62%. El Paso Electric’s payout ratio is currently 56.07%.

A number of large investors have recently added to or reduced their stakes in EE. Schwab Charles Investment Management Inc. lifted its holdings in El Paso Electric by 3.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 270,166 shares of the utilities provider’s stock worth $13,968,000 after purchasing an additional 9,075 shares during the last quarter. Neuberger Berman Group LLC bought a new position in El Paso Electric during the 2nd quarter worth $221,000. Principal Financial Group Inc. increased its stake in El Paso Electric by 9.4% during the 2nd quarter. Principal Financial Group Inc. now owns 346,809 shares of the utilities provider’s stock worth $17,930,000 after acquiring an additional 29,758 shares during the period. Swiss National Bank increased its stake in El Paso Electric by 2.2% during the 2nd quarter. Swiss National Bank now owns 68,200 shares of the utilities provider’s stock worth $3,526,000 after acquiring an additional 1,500 shares during the period. Finally, Wells Fargo & Company MN increased its stake in El Paso Electric by 32.4% during the 2nd quarter. Wells Fargo & Company MN now owns 121,638 shares of the utilities provider’s stock worth $6,289,000 after acquiring an additional 29,744 shares during the period. 98.66% of the stock is owned by institutional investors and hedge funds.

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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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