El Paso Electric Company (NYSE:EE) released its quarterly earnings results on Wednesday. The utilities provider reported $1.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.70 by ($0.23), Briefing.com reports. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. The company had revenue of $297.47 million for the quarter, compared to the consensus estimate of $310.00 million. During the same period in the prior year, the firm posted $1.84 EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, December 14th. El Paso Electric’s dividend payout ratio (DPR) is 48.38%.

EE has been the subject of a number of recent analyst reports. Zacks Investment Research raised El Paso Electric from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, September 19th. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. BidaskClub raised El Paso Electric from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Bank of America Corporation initiated coverage on El Paso Electric in a research note on Tuesday, October 24th. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $56.00 price objective (up previously from $55.00) on shares of El Paso Electric in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $56.60.

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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).

Earnings History for El Paso Electric (NYSE:EE)

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