Williams Capital Equities Analysts Decrease Earnings Estimates for El Paso Electric Company (EE)

El Paso Electric Company (NYSE:EE) – Research analysts at Williams Capital reduced their Q3 2018 earnings per share (EPS) estimates for shares of El Paso Electric in a report released on Wednesday. Williams Capital analyst C. Ellinghaus now forecasts that the utilities provider will post earnings per share of $1.63 for the quarter, down from their prior estimate of $1.66. Williams Capital also issued estimates for El Paso Electric’s Q4 2018 earnings at $0.10 EPS, FY2018 earnings at $2.50 EPS and FY2019 earnings at $2.70 EPS.

El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $251.84 million during the quarter. During the same period in the prior year, the company earned $0.55 EPS.

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A number of other brokerages have also recently issued reports on EE. BidaskClub cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research cut shares of El Paso Electric from a “buy” rating to a “hold” rating in a research report on Thursday. Mizuho initiated coverage on shares of El Paso Electric in a research report on Thursday, August 17th. They set a “neutral” rating and a $55.00 target price for the company. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $56.00 target price (up previously from $55.00) on shares of El Paso Electric in a research report on Friday, August 11th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $55.00.

Shares of El Paso Electric (NYSE EE) remained flat at $54.90 during midday trading on Thursday. 51,335 shares of the stock traded hands. The company’s 50 day moving average is $54.54 and its 200-day moving average is $52.24. El Paso Electric has a one year low of $42.49 and a one year high of $56.58. The company has a market capitalization of $2.23 billion, a PE ratio of 19.83 and a beta of 0.48.

Several institutional investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC increased its position in shares of 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 in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of El Paso Electric by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,237 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 90 shares in the last quarter. 1st Global Advisors Inc. acquired a new stake in shares of El Paso Electric during the 2nd quarter worth about $202,000. Piedmont Investment Advisors LLC acquired a new stake in shares of El Paso Electric during the 2nd quarter worth about $456,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of El Paso Electric during the 2nd quarter worth about $750,000. Institutional investors and hedge funds own 97.96% of the company’s stock.

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).

Earnings History and Estimates for El Paso Electric (NYSE:EE)

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