El Paso Electric Company (EE) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $-0.14 earnings per share for the quarter, missing the analyst consensus estimate by $-0.07. Analysts had a consensus of $-0.07. During the same quarter in the previous year, the company posted $0.09 EPS.
Many Wall Street Analysts have commented on El Paso Electric Company. El Paso Electric Company was Upgraded by Jefferies to ” Hold” on Mar 24, 2016.
El Paso Electric Company opened for trading at $45.14 and hit $45.65 on the upside on Monday, eventually ending the session at $45.48, with a gain of 0.84% or 0.38 points. The heightened volatility saw the trading volume jump to 1,91,664 shares. Company has a market cap of $1,841 M.
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.