Jefferies Group Equities Analysts Reduce Earnings Estimates for El Paso Electric Company (EE)

El Paso Electric Company (NYSE:EE) – Equities research analysts at Jefferies Group dropped their FY2017 EPS estimates for El Paso Electric in a report issued on Monday. Jefferies Group analyst A. Crowdell now expects that the utilities provider will earn $2.45 per share for the year, down from their prior forecast of $2.65. Jefferies Group has a “Underperform” rating on the stock. Jefferies Group also issued estimates for El Paso Electric’s Q4 2017 earnings at $0.20 EPS and FY2020 earnings at $2.80 EPS.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded El Paso Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, July 21st. BidaskClub raised El Paso Electric from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. ValuEngine cut El Paso Electric from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Mizuho started coverage on El Paso Electric in a research report on Thursday, August 17th. They issued a “neutral” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. El Paso Electric has an average rating of “Hold” and a consensus target price of $55.50.

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El Paso Electric (EE) opened at 57.20 on Thursday. The stock’s 50 day moving average price is $55.94 and its 200-day moving average price is $53.34. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 20.66 and a beta of 0.47. El Paso Electric has a one year low of $43.50 and a one year high of $58.70.

El Paso Electric (NYSE:EE) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. El Paso Electric had a return on equity of 9.95% and a net margin of 11.45%. The company had revenue of $251.84 million during the quarter. During the same quarter last year, the firm earned $0.55 earnings per share.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in El Paso Electric by 34,872.4% during the 1st quarter. BlackRock Inc. now owns 5,344,481 shares of the utilities provider’s stock worth $269,896,000 after purchasing an additional 5,329,199 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in El Paso Electric by 160.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock worth $18,059,000 after purchasing an additional 215,109 shares during the last quarter. Vanguard Group Inc. lifted its holdings in El Paso Electric by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock worth $196,130,000 after purchasing an additional 170,235 shares during the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in El Paso Electric by 75.6% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 389,610 shares of the utilities provider’s stock worth $20,143,000 after purchasing an additional 167,682 shares during the last quarter. Finally, AHL Partners LLP lifted its holdings in El Paso Electric by 1,142.2% during the 2nd quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock worth $8,861,000 after purchasing an additional 157,594 shares during the last quarter. 97.96% of the stock is owned by institutional investors.

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 and Estimates for El Paso Electric (NYSE:EE)

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