El Paso Electric Company (EE) is Upgraded by Jefferies to Buy

El Paso Electric Company (EE) was Upgraded by Jefferies to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Jul 14, 2016.

On the company’s financial health, El Paso Electric Company reported $-0.14 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.07.During the same quarter in the previous year, the company posted $0.09 EPS.

El Paso Electric Company opened for trading at $46.38 and hit $46.86 on the upside on Wednesday, eventually ending the session at $46.83, with a gain of 1.23% or 0.57 points. The heightened volatility saw the trading volume jump to 1,72,802 shares. Company has a market cap of $1,896 M.

In a different news, on May 11, 2016, Charles Yamarone (director) sold 5,500 shares at $45.16 per share price.

El Paso Electric Company is engaged in the generation transmission and distribution of electricity in an area of approximately 10000 square miles in west Texas and southern New Mexico. The Company owns or has ownership interests in several electrical generating facilities providing it with a generating capability of approximately 1879 Megawatts. The Company’s energy sources consist of approximately 47% nuclear fuel 35% natural gas 5% coal 13% purchased power and less than 1% generated by Company-owned solar photovoltaic panels and wind turbines. It has power purchase agreements for around 107 Megawatts from solar photovoltaic generation facilities. It serves residential commercial industrial public authority and wholesale customers. The Company distributes electricity to retail customers principally in El Paso Texas and Las Cruces New Mexico. In addition its wholesale sales include sales for resale to other electric utilities and power marketers.

El Paso Electric Company

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