El Paso Electric Company (NYSE:EE) – Investment analysts at Jefferies Group issued their Q3 2017 earnings estimates for El Paso Electric in a note issued to investors on Thursday. Jefferies Group analyst A. Crowdell forecasts that the utilities provider will post earnings of $1.61 per share for the quarter. Jefferies Group has a “Hold” rating and a $52.00 price objective on the stock. Jefferies Group also issued estimates for El Paso Electric’s Q4 2017 earnings at $0.00 EPS.
El Paso Electric (NYSE:EE) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.75 by $0.14. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The firm had revenue of $251.84 million for the quarter. During the same period in the prior year, the business earned $0.55 earnings per share.
Several other equities research analysts have also recently weighed in on EE. Zacks Investment Research cut El Paso Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub cut El Paso Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. El Paso Electric has a consensus rating of “Hold” and a consensus target price of $51.33.
El Paso Electric (NYSE EE) opened at 53.85 on Monday. The firm has a 50-day moving average of $51.99 and a 200 day moving average of $50.38. El Paso Electric has a 12-month low of $42.49 and a 12-month high of $55.45. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.45 and a beta of 0.48.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in El Paso Electric by 34,872.4% in the first quarter. BlackRock Inc. now owns 5,344,481 shares of the utilities provider’s stock valued at $269,896,000 after buying an additional 5,329,199 shares during the period. Vanguard Group Inc. boosted its position in El Paso Electric by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock valued at $196,130,000 after buying an additional 170,235 shares during the period. Victory Capital Management Inc. boosted its position in El Paso Electric by 4.0% in the first quarter. Victory Capital Management Inc. now owns 1,071,469 shares of the utilities provider’s stock valued at $54,109,000 after buying an additional 40,772 shares during the period. State Street Corp boosted its position in El Paso Electric by 5.8% in the first quarter. State Street Corp now owns 1,055,673 shares of the utilities provider’s stock valued at $53,314,000 after buying an additional 57,564 shares during the period. Finally, Macquarie Group Ltd. boosted its position in El Paso Electric by 5.5% in the first quarter. Macquarie Group Ltd. now owns 986,255 shares of the utilities provider’s stock valued at $49,806,000 after buying an additional 51,724 shares during the period. Institutional investors own 96.93% of the company’s stock.
In related news, Director Charles Yamarone sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $52.47, for a total value of $183,645.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $524,700. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.33% of the company’s stock.
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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