Zacks Investment Research cut shares of El Paso Electric (NYSE:EE) from a hold rating to a sell rating in a research report report published on Monday, Zacks.com reports.

According to Zacks, “El Paso Electric Company is a regional electric utility providing generation, transmission and distribution service to the retail and wholesale customers of the Rio Grande valley in west Texas and southern New Mexico. El Paso Electric is one of the largest employers in the City of El Paso. “

Other analysts also recently issued reports about the company. TheStreet upgraded El Paso Electric from a c+ rating to a b- rating in a research report on Wednesday, April 24th. ValuEngine downgraded El Paso Electric from a buy rating to a hold rating in a research report on Monday, April 1st. Mizuho upped their price objective on El Paso Electric from $50.00 to $58.00 and gave the company a neutral rating in a research report on Friday, March 29th. Williams Capital upgraded El Paso Electric from a sell rating to a hold rating and upped their price objective for the company from $49.00 to $53.00 in a research report on Monday, March 4th. Finally, Bank of America restated a neutral rating and issued a $55.00 price objective (up from $49.00) on shares of El Paso Electric in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. El Paso Electric has a consensus rating of Hold and a consensus price target of $58.00.

EE opened at $59.62 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.37 and a debt-to-equity ratio of 1.11. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 4.95 and a beta of 0.51. El Paso Electric has a one year low of $47.99 and a one year high of $64.35.

El Paso Electric (NYSE:EE) last posted its earnings results on Wednesday, May 8th. The utilities provider reported ($0.17) EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.29). The firm had revenue of $174.36 million for the quarter. El Paso Electric had a return on equity of 8.61% and a net margin of 10.79%. On average, equities analysts anticipate that El Paso Electric will post 2.39 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Arizona State Retirement System lifted its position in shares of El Paso Electric by 0.3% in the first quarter. Arizona State Retirement System now owns 62,847 shares of the utilities provider’s stock valued at $3,697,000 after acquiring an additional 182 shares in the last quarter. Sageworth Trust Co lifted its position in shares of El Paso Electric by 30.8% in the first quarter. Sageworth Trust Co now owns 785 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 185 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of El Paso Electric by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 28,650 shares of the utilities provider’s stock valued at $1,436,000 after acquiring an additional 192 shares in the last quarter. Summit Global Investments lifted its position in El Paso Electric by 1.7% during the first quarter. Summit Global Investments now owns 12,300 shares of the utilities provider’s stock worth $723,000 after buying an additional 200 shares during the period. Finally, State of Alaska Department of Revenue lifted its position in El Paso Electric by 1.8% during the fourth quarter. State of Alaska Department of Revenue now owns 13,639 shares of the utilities provider’s stock worth $683,000 after buying an additional 245 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.

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.

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