El Paso Electric (NYSE:EE) declared a quarterly dividend on Thursday, October 26th, RTT News reports. Investors of record on Friday, December 15th will be paid a dividend of 0.335 per share by the utilities provider on Friday, December 29th. This represents a $1.34 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Thursday, December 14th.
El Paso Electric has raised its dividend payment by an average of 5.4% annually over the last three years and has increased its dividend every year for the last 5 years. El Paso Electric has a dividend payout ratio of 53.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect El Paso Electric to earn $2.66 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 50.4%.
El Paso Electric (NYSE:EE) opened at $58.90 on Friday. El Paso Electric has a twelve month low of $44.70 and a twelve month high of $61.15. The firm has a market capitalization of $2,386.80, a price-to-earnings ratio of 24.50, a P/E/G ratio of 4.53 and a beta of 0.47. The company has a current ratio of 0.63, a quick ratio of 0.47 and a debt-to-equity ratio of 1.05.
El Paso Electric (NYSE:EE) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.23). El Paso Electric had a return on equity of 8.44% and a net margin of 10.13%. The business had revenue of $297.47 million for the quarter, compared to analyst estimates of $310.00 million. During the same period in the prior year, the company earned $1.84 EPS. The company’s revenue was down 8.0% on a year-over-year basis. analysts expect that El Paso Electric will post 2.51 EPS for the current fiscal year.
Several research firms have weighed in on EE. Bank of America began coverage on El Paso Electric in a report on Tuesday, October 24th. They issued a “buy” rating and a $62.00 target price on the stock. ValuEngine raised El Paso Electric from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Mizuho reissued a “hold” rating and issued a $55.00 target price on shares of El Paso Electric in a report on Friday, October 27th. Zacks Investment Research lowered El Paso Electric from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Finally, Jefferies Group reissued a “hold” rating and issued a $57.00 target price (up previously from $56.00) on shares of El Paso Electric in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. El Paso Electric currently has a consensus rating of “Hold” and a consensus target price of $56.60.
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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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