Jefferies Group LLC Downgrades El Paso Electric Company (EE) to Underperform

El Paso Electric Company (NYSE:EE) was downgraded by equities research analysts at Jefferies Group LLC from a “hold” rating to an “underperform” rating in a note issued to investors on Monday, October 16th, MarketBeat.com reports. Jefferies Group also issued estimates for El Paso Electric’s Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $2.45 EPS, FY2018 earnings at $2.41 EPS, FY2019 earnings at $2.67 EPS and FY2020 earnings at $2.80 EPS.

Several other equities analysts have also recently commented on EE. BidaskClub upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Mizuho assumed coverage on shares of El Paso Electric in a report on Thursday, August 17th. They set a “neutral” rating and a $55.00 price target on the stock. Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, ValuEngine raised shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. El Paso Electric has an average rating of “Hold” and an average target price of $56.60.

Shares of El Paso Electric (NYSE:EE) opened at 58.40 on Monday. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 21.10 and a beta of 0.47. The firm has a 50-day moving average price of $56.21 and a 200 day moving average price of $53.59. El Paso Electric has a one year low of $43.55 and a one year high of $58.70.

El Paso Electric (NYSE:EE) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, topping 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 quarter in the previous year, the firm posted $0.55 earnings per share. Equities analysts forecast that El Paso Electric will post $2.55 earnings per share for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its position in El Paso Electric by 1.0% during the 2nd quarter. Amalgamated Bank now owns 5,529 shares of the utilities provider’s stock worth $286,000 after acquiring an additional 55 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of El Paso Electric by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock valued at $478,000 after buying an additional 90 shares during the last quarter. Arizona State Retirement System raised its position in shares of El Paso Electric by 0.5% during the second quarter. Arizona State Retirement System now owns 21,201 shares of the utilities provider’s stock valued at $1,096,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund raised its position in shares of El Paso Electric by 0.8% during the second quarter. Texas Permanent School Fund now owns 29,612 shares of the utilities provider’s stock valued at $1,531,000 after buying an additional 248 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in shares of El Paso Electric by 4.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,570 shares of the utilities provider’s stock valued at $495,000 after buying an additional 370 shares during the last quarter. 98.12% of the stock is owned by hedge funds and other institutional investors.

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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