El Paso Electric (NYSE:EE) declared a quarterly dividend on Thursday, February 1st, RTT News reports. Shareholders of record on Friday, March 16th will be paid a dividend of 0.335 per share by the utilities provider on Friday, March 30th. This represents a $1.34 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, March 15th.
El Paso Electric has increased its dividend by an average of 6.0% annually over the last three years and has raised its dividend every year for the last 6 years. El Paso Electric has a dividend payout ratio of 53.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect El Paso Electric to earn $2.65 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 50.6%.
EE stock opened at $49.65 on Wednesday. El Paso Electric has a fifty-two week low of $48.05 and a fifty-two week high of $61.15. The company has a current ratio of 0.50, a quick ratio of 0.33 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $2,010.69, a price-to-earnings ratio of 20.39, a PEG ratio of 3.76 and a beta of 0.43.
El Paso Electric (NYSE:EE) last released its quarterly earnings results on Tuesday, February 27th. The utilities provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The company had revenue of $196.10 million during the quarter, compared to the consensus estimate of $234.32 million. El Paso Electric had a net margin of 10.13% and a return on equity of 8.39%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. research analysts expect that El Paso Electric will post 2.58 earnings per share for the current fiscal year.
A number of analysts recently commented on the company. Bank of America downgraded El Paso Electric from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a research report on Wednesday, November 22nd. Zacks Investment Research lowered El Paso Electric from a “hold” rating to a “sell” rating in a report on Monday, December 25th. ValuEngine lowered El Paso Electric from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Mizuho reaffirmed a “hold” rating and issued a $54.00 price target on shares of El Paso Electric in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. El Paso Electric currently has a consensus rating of “Hold” and a consensus price target of $58.50.
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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).
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