ValuEngine lowered shares of El Paso Electric Company (NYSE:EE) from a buy rating to a hold rating in a research report released on Monday, October 2nd.

A number of other analysts have also issued reports on EE. Jefferies Group LLC reissued a hold rating and issued a $56.00 price target (up from $55.00) on shares of El Paso Electric in a research report on Friday, August 11th. BidaskClub raised shares of El Paso Electric from a hold rating to a buy rating in a research report on Friday, August 18th. Mizuho started coverage on shares of El Paso Electric in a research report on Thursday, August 17th. They set a neutral rating and a $55.00 price objective on the stock. Finally, Zacks Investment Research upgraded El Paso Electric from a sell rating to a hold rating in a report on Monday, August 14th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $55.50.

El Paso Electric (NYSE EE) traded down 0.17% during midday trading on Monday, reaching $58.10. 228,721 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $55.79 and its 200-day moving average price is $53.17. El Paso Electric has a 1-year low of $43.12 and a 1-year high of $58.70. The company has a market capitalization of $2.36 billion, a PE ratio of 20.99 and a beta of 0.47.

El Paso Electric (NYSE:EE) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.14. The business had revenue of $251.84 million during the quarter. El Paso Electric had a net margin of 11.45% and a return on equity of 9.95%. During the same period last year, the company earned $0.55 earnings per share. Equities analysts expect that El Paso Electric will post $2.58 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of EE. BlackRock Inc. lifted its holdings in shares of El Paso Electric by 34,872.4% during the first quarter. BlackRock Inc. now owns 5,344,481 shares of the utilities provider’s stock valued at $269,896,000 after acquiring an additional 5,329,199 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of El Paso Electric by 160.3% in the second quarter. Lord Abbett & CO. LLC now owns 349,309 shares of the utilities provider’s stock valued at $18,059,000 after buying an additional 215,109 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of El Paso Electric by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,883,762 shares of the utilities provider’s stock valued at $196,130,000 after buying an additional 170,235 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in shares of El Paso Electric by 75.6% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 389,610 shares of the utilities provider’s stock valued at $20,143,000 after buying an additional 167,682 shares during the last quarter. Finally, AHL Partners LLP raised its holdings in shares of El Paso Electric by 1,142.2% in the second quarter. AHL Partners LLP now owns 171,392 shares of the utilities provider’s stock valued at $8,861,000 after buying 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).

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