El Paso Electric Company (EE) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.55 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.44. During the same quarter in the previous year, the company posted $0.52 EPS.
Many Wall Street Analysts have commented on El Paso Electric Company. El Paso Electric Company was Upgraded by Jefferies to ” Buy” on Jul 14, 2016.
El Paso Electric Company closed down -0.52 points or -1.09% at $47.05 with 1,41,221 shares getting traded on Tusday. Post opening the session at $47.34, the shares hit an intraday low of $46.9 and an intraday high of $47.46 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
Investors should note that on Jul 22, 2016, El Paso Electric Company announced a cash dividend of $0.3100. The company’s management has announced Sep 12, 2016 as the ex-dividend date and fixed the record date on Sep 14, 2016. The payable date has been fixed on Sep 30, 2016.
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.