El Paso Electric (NYSE:EE) declared a quarterly dividend on Thursday, July 25th, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.385 per share by the utilities provider on Monday, September 30th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, September 13th.
El Paso Electric has increased its dividend by an average of 6.7% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. El Paso Electric has a dividend payout ratio of 63.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect El Paso Electric to earn $2.95 per share next year, which means the company should continue to be able to cover its $1.54 annual dividend with an expected future payout ratio of 52.2%.
Shares of NYSE EE traded up $0.19 during midday trading on Wednesday, hitting $67.07. The stock had a trading volume of 4,962 shares, compared to its average volume of 221,104. The company has a quick ratio of 0.46, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. El Paso Electric has a 1-year low of $47.99 and a 1-year high of $67.20. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 4.64 and a beta of 0.55. The company has a fifty day moving average price of $66.49 and a 200 day moving average price of $62.42.
In other news, Director Edward Escudero sold 15,000 shares of El Paso Electric stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $66.37, for a total transaction of $995,550.00. Following the sale, the director now owns 17,252 shares in the company, valued at $1,145,015.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric B. Siegel sold 24,094 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $66.38, for a total transaction of $1,599,359.72. Following the transaction, the director now directly owns 57,550 shares in the company, valued at $3,820,169. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 64,094 shares of company stock worth $4,254,910. 1.21% of the stock is currently owned by insiders.
Several equities research analysts have issued reports on EE shares. ValuEngine upgraded shares of El Paso Electric from a “hold” rating to a “buy” rating in a research note on Monday, June 3rd. Zacks Investment Research downgraded shares of El Paso Electric from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.00.
About El Paso Electric
El Paso Electric Co engages in the generation, transmission, and distribution of electricity in West Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, coal, wind turbines, and purchased power. The company’s electrical generating facilities include Palo Verde Station, Newman Power Station, Rio Grande Power Station, Four Corners Station, Copper Power Station, and Wind Ranch.
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