El Paso Electric (EE) Receives $58.00 Consensus Price Target from Analysts

El Paso Electric (NYSE:EE) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $58.00.

EE has been the subject of a number of analyst reports. Bank of America initiated coverage on El Paso Electric in a report on Tuesday, October 24th. They issued a “buy” rating and a $62.00 price target for the company. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Mizuho reiterated a “hold” rating and set a $55.00 price objective on shares of El Paso Electric in a research note on Friday, October 27th. Zacks Investment Research upgraded El Paso Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Finally, Jefferies Group lowered El Paso Electric from a “hold” rating to an “underperform” rating in a research note on Monday, October 16th.

Large investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in El Paso Electric during the 3rd quarter worth approximately $179,000. 1st Global Advisors Inc. purchased a new stake in El Paso Electric during the 2nd quarter worth approximately $202,000. Sciencast Management LP purchased a new stake in El Paso Electric during the 2nd quarter worth approximately $202,000. Shelton Capital Management purchased a new stake in El Paso Electric during the 2nd quarter worth approximately $208,000. Finally, Balyasny Asset Management LLC purchased a new stake in El Paso Electric during the 2nd quarter worth approximately $270,000. Institutional investors own 99.51% of the company’s stock.

El Paso Electric (NYSE:EE) traded up $1.25 during midday trading on Thursday, reaching $50.75. The company had a trading volume of 483,862 shares, compared to its average volume of 228,496. The firm has a market cap of $2,060.04, a PE ratio of 21.15, a price-to-earnings-growth ratio of 3.74 and a beta of 0.37. El Paso Electric has a 12 month low of $45.65 and a 12 month high of $61.15. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 1.05.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be paid a dividend of $0.335 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.34 annualized dividend and a yield of 2.64%. El Paso Electric’s dividend payout ratio (DPR) is currently 55.83%.

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El Paso Electric Company Profile

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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