El Paso Electric (NYSE:EE) released its quarterly earnings data on Thursday. The utilities provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.12, Morningstar.com reports. The company had revenue of $300.27 million for the quarter. El Paso Electric had a net margin of 10.21% and a return on equity of 8.12%. El Paso Electric updated its FY 2018 guidance to $2.20-2.35 EPS.
Shares of El Paso Electric stock traded down $0.79 during trading on Friday, hitting $56.91. 219,436 shares of the stock were exchanged, compared to its average volume of 263,559. The firm has a market capitalization of $2.34 billion, a PE ratio of 23.52, a P/E/G ratio of 5.07 and a beta of 0.33. El Paso Electric has a 1-year low of $48.05 and a 1-year high of $64.35. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.84 and a quick ratio of 0.61.
Institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of El Paso Electric during the 3rd quarter worth about $6,855,000. First Trust Advisors LP boosted its holdings in shares of El Paso Electric by 8.6% during the 3rd quarter. First Trust Advisors LP now owns 429,005 shares of the utilities provider’s stock worth $24,539,000 after buying an additional 34,021 shares during the period. Bank of Montreal Can boosted its holdings in shares of El Paso Electric by 31.8% during the 3rd quarter. Bank of Montreal Can now owns 60,148 shares of the utilities provider’s stock worth $3,440,000 after buying an additional 14,495 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its holdings in shares of El Paso Electric by 6.8% during the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 469,611 shares of the utilities provider’s stock worth $26,862,000 after buying an additional 29,985 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of El Paso Electric by 0.8% during the 2nd quarter. Northern Trust Corp now owns 1,305,183 shares of the utilities provider’s stock worth $77,136,000 after buying an additional 10,528 shares during the period. Institutional investors own 99.71% of the company’s stock.
Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of El Paso Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Mizuho restated a “hold” rating and set a $58.00 price objective on shares of El Paso Electric in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $56.00.
El Paso Electric Company Profile
El Paso Electric Company, a public utility company, engages in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. It generates electricity through nuclear fuel, natural gas, and coal, as well as solar photovoltaic panels and wind turbines with a generating capability of approximately 2,082 megawatts.
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