Analysts Set El Paso Electric (NYSE:EE) Target Price at $55.33

El Paso Electric (NYSE:EE) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $55.33.

A number of equities research analysts recently weighed in on EE shares. Zacks Investment Research downgraded El Paso Electric from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. ValuEngine downgraded El Paso Electric from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

EE stock traded up $0.01 during trading on Friday, reaching $67.29. 54,778 shares of the stock were exchanged, compared to its average volume of 302,953. El Paso Electric has a twelve month low of $47.99 and a twelve month high of $67.86. The company has a market capitalization of $2.73 billion, a P/E ratio of 28.88 and a beta of 0.53. The stock has a 50 day simple moving average of $66.98 and a 200-day simple moving average of $64.15. The company has a current ratio of 0.64, a quick ratio of 0.46 and a debt-to-equity ratio of 1.19.

El Paso Electric (NYSE:EE) last released its earnings results on Tuesday, August 6th. The utilities provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.14). El Paso Electric had a return on equity of 7.79% and a net margin of 10.39%. The firm had revenue of $203.08 million for the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, September 13th. El Paso Electric’s payout ratio is 66.09%.

In other El Paso Electric news, Director Edward Escudero sold 15,000 shares of El Paso Electric stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $66.37, for a total transaction of $995,550.00. Following the sale, the director now directly owns 17,252 shares of the company’s stock, valued at $1,145,015.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen Wertheimer sold 25,000 shares of El Paso Electric stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $66.40, for a total value of $1,660,000.00. Following the sale, the director now directly owns 27,376 shares in the company, valued at $1,817,766.40. The disclosure for this sale can be found here. Insiders have sold 64,094 shares of company stock worth $4,254,910 over the last ninety days. Company insiders own 1.21% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. grew its holdings in El Paso Electric by 8.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 12,787 shares of the utilities provider’s stock worth $858,000 after acquiring an additional 1,006 shares during the period. Assenagon Asset Management S.A. raised its position in El Paso Electric by 222.9% in the third quarter. Assenagon Asset Management S.A. now owns 12,251 shares of the utilities provider’s stock worth $822,000 after acquiring an additional 8,457 shares during the period. Alpine Group USVI LLC bought a new stake in El Paso Electric in the third quarter worth about $2,012,000. State of Alaska Department of Revenue raised its position in El Paso Electric by 127.6% in the third quarter. State of Alaska Department of Revenue now owns 31,464 shares of the utilities provider’s stock worth $2,110,000 after acquiring an additional 17,638 shares during the period. Finally, Macquarie Group Ltd. raised its position in El Paso Electric by 0.8% in the second quarter. Macquarie Group Ltd. now owns 1,019,800 shares of the utilities provider’s stock worth $66,695,000 after acquiring an additional 7,931 shares during the period. 92.01% of the stock is currently owned by institutional investors.

El Paso Electric Company Profile

El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.

See Also: Quick Ratio

Receive News & Ratings for El Paso Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for El Paso Electric and related companies with MarketBeat.com's FREE daily email newsletter.